Power Co. of Canada (TSE:POW) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Power Co. of Canada (TSE:POW)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.86 and traded as high as C$73.06. Power Co. of Canada shares last traded at C$72.71, with a volume of 1,247,843 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on POW. CIBC set a C$75.00 target price on shares of Power Co. of Canada and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Desjardins raised their price target on Power Co. of Canada from C$60.00 to C$65.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. National Bankshares lifted their price objective on Power Co. of Canada from C$58.00 to C$64.00 and gave the stock a “sector perform” rating in a research note on Monday, October 27th. TD Securities downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, BMO Capital Markets raised their target price on Power Co. of Canada from C$60.00 to C$71.00 in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$69.50.

Power Co. of Canada Price Performance

The firm has a market cap of C$46.32 billion, a P/E ratio of 15.34, a PEG ratio of 0.57 and a beta of 0.93. The company’s 50 day moving average is C$71.53 and its two-hundred day moving average is C$62.86.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 EPS for the quarter. Power Co. of Canada had a return on equity of 10.06% and a net margin of 4.45%.The firm had revenue of C$9.89 billion during the quarter. Research analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current year.

Power Co. of Canada Company Profile

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.