National Bank Financial Estimates TSE:CU FY2024 Earnings

Canadian Utilities Limited (TSE:CU) – Equities research analysts at National Bank Financial increased their FY2024 earnings estimates for Canadian Utilities in a report released on Sunday, November 17th. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $2.39 for the year, up from their previous forecast of $2.37. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.41 per share.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada lifted their price objective on Canadian Utilities from C$38.00 to C$39.00 in a research note on Friday, November 15th. National Bankshares boosted their target price on Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. Scotiabank upped their target price on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their price objective on Canadian Utilities from C$35.50 to C$37.00 in a research note on Thursday, September 5th. Finally, CIBC boosted their price target on shares of Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th.

Canadian Utilities Stock Up 1.1 %

Canadian Utilities stock opened at C$35.46 on Wednesday. The company has a debt-to-equity ratio of 149.94, a current ratio of 1.29 and a quick ratio of 1.30. Canadian Utilities has a 1-year low of C$29.15 and a 1-year high of C$37.10. The stock has a market capitalization of C$7.27 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.38 and a beta of 0.66. The business has a fifty day moving average price of C$35.47 and a 200-day moving average price of C$32.83.

Canadian Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.453 per share. This represents a $1.81 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, November 7th. Canadian Utilities’s dividend payout ratio is currently 91.41%.

Canadian Utilities Company Profile

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.