Brokers Issue Forecasts for Capital Power Co.’s Q1 2024 Earnings (TSE:CPX)

Capital Power Co. (TSE:CPX) – Analysts at Raymond James dropped their Q1 2024 earnings per share (EPS) estimates for Capital Power in a research note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will post earnings of $0.77 per share for the quarter, down from their previous forecast of $1.08. Raymond James currently has a “Market Perform” rating and a $45.00 target price on the stock. The consensus estimate for Capital Power’s current full-year earnings is $3.15 per share. Raymond James also issued estimates for Capital Power’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $1.08 EPS and FY2024 earnings at $3.62 EPS.

Capital Power (TSE:CPX) last announced its quarterly earnings results on Wednesday, February 28th. The company reported C$0.74 EPS for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.02. Capital Power had a net margin of 18.29% and a return on equity of 26.11%. The business had revenue of C$984.00 million during the quarter.

A number of other research firms also recently issued reports on CPX. Scotiabank cut their price target on Capital Power from C$47.00 to C$45.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 17th. CIBC lowered their price target on Capital Power from C$43.00 to C$40.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. National Bankshares dropped their price objective on Capital Power from C$48.00 to C$45.00 in a research note on Wednesday, January 17th. ATB Capital reduced their target price on shares of Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada dropped their price target on Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Capital Power currently has a consensus rating of “Hold” and a consensus target price of C$45.91.

Capital Power Trading Up 0.3 %

TSE:CPX opened at C$35.42 on Monday. The company has a debt-to-equity ratio of 153.08, a current ratio of 1.29 and a quick ratio of 0.55. Capital Power has a one year low of C$35.11 and a one year high of C$46.73. The company has a market cap of C$4.47 billion, a PE ratio of 5.86, a PEG ratio of 0.91 and a beta of 0.57. The firm has a 50-day moving average of C$37.42 and a 200-day moving average of C$37.32.

Capital Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Capital Power’s dividend payout ratio (DPR) is presently 40.73%.

Insider Activity

In other Capital Power news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$39.22, for a total value of C$204,296.98. 0.17% of the stock is owned by company insiders.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.