Canadian Imperial Bank of Commerce Issues Positive Forecast for Canadian Utilities (TSE:CU) Stock Price

Canadian Utilities (TSE:CU) had its price objective lifted by Canadian Imperial Bank of Commerce from C$47.00 to C$51.00 in a research note issued to investors on Monday,BayStreet.CA reports.

Several other research firms also recently issued reports on CU. TD Securities lifted their price target on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada upped their price objective on shares of Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Friday, February 27th. Finally, National Bank Financial lifted their price objective on shares of Canadian Utilities from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday, February 27th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$46.50.

Canadian Utilities Stock Down 0.5%

CU stock opened at C$48.21 on Monday. The stock’s 50 day simple moving average is C$48.07 and its 200 day simple moving average is C$44.00. The company has a market cap of C$13.12 billion, a P/E ratio of 321.40, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The company has a debt-to-equity ratio of 194.86, a quick ratio of 1.30 and a current ratio of 1.56. Canadian Utilities has a fifty-two week low of C$36.23 and a fifty-two week high of C$51.05.

Canadian Utilities (TSE:CU) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$0.72 EPS for the quarter. Canadian Utilities had a return on equity of 1.74% and a net margin of 3.22%.The firm had revenue of C$971.00 million during the quarter. On average, research analysts expect that Canadian Utilities will post 2.4063556 earnings per share for the current fiscal year.

Canadian Utilities Company Profile

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company’s main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.