Capital Power Co. to Post FY2024 Earnings of $3.50 Per Share, National Bank Financial Forecasts (TSE:CPX)

Capital Power Co. (TSE:CPX) – Equities researchers at National Bank Financial lifted their FY2024 EPS estimates for Capital Power in a research note issued to investors on Wednesday, May 1st. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings of $3.50 per share for the year, up from their prior forecast of $2.52. The consensus estimate for Capital Power’s current full-year earnings is $3.21 per share.

Capital Power (TSE:CPX) last issued its earnings results on Wednesday, February 28th. The company reported C$0.74 earnings per share for the quarter, beating the consensus estimate 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 for the quarter.

A number of other equities analysts have also recently issued reports on the company. Desjardins dropped their target price on Capital Power from C$51.00 to C$49.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Scotiabank cut their price objective on Capital Power from C$45.00 to C$40.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Raymond James lowered their target price on shares of Capital Power from C$46.00 to C$45.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. ATB Capital cut their price target on shares of Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a report on Wednesday, January 17th. Finally, National Bankshares decreased their price objective on shares of Capital Power from C$45.00 to C$43.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$44.45.

Capital Power Stock Up 1.0 %

Shares of CPX opened at C$36.42 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.29 and a debt-to-equity ratio of 153.08. The company has a 50-day moving average price of C$37.28 and a two-hundred day moving average price of C$37.27. The stock has a market cap of C$4.70 billion, a price-to-earnings ratio of 6.03, a P/E/G ratio of 0.91 and a beta of 0.57. Capital Power has a 12 month low of C$33.90 and a 12 month high of C$46.73.

Capital Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend is Friday, June 28th. Capital Power’s dividend payout ratio is currently 40.73%.

Insider Buying and Selling

In other news, Senior Officer Bryan Deneve acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of C$35.80 per share, for a total transaction of C$179,005.00. In related news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$39.22, for a total value of C$204,296.98. Also, Senior Officer Bryan Deneve acquired 5,000 shares of Capital Power stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of C$35.80 per share, for a total transaction of C$179,005.00. 0.17% of the stock is currently owned by corporate 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.