Canadian Imperial Bank of Commerce Cuts Canadian Utilities (TSE:CU) Price Target to C$52.00

by · The Cerbat Gem

Canadian Utilities (TSE:CU – Free Report) had its price target cut by Canadian Imperial Bank of Commerce from C$55.00 to C$52.00 in a research note released on Tuesday morning,BayStreet reports.

Several other equities analysts also recently commented on CU. BMO Capital Markets increased their price target on Canadian Utilities from C$50.00 to C$55.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Scotiabank upped their price objective on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. TD upped their price objective on shares of Canadian Utilities from C$48.00 to C$52.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their target price on shares of Canadian Utilities from C$50.00 to C$58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, National Bank Financial lifted their target price on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Canadian Utilities has a consensus rating of “Hold” and a consensus target price of C$53.14.

Read Our Latest Stock Analysis on Canadian Utilities

Canadian Utilities Stock Performance

CU opened at C$50.69 on Tuesday. The company has a debt-to-equity ratio of 184.88, a quick ratio of 1.30 and a current ratio of 1.80. The company has a market cap of C$13.80 billion, a PE ratio of 316.81, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The stock has a 50-day moving average of C$52.66 and a 200-day moving average of C$50.93. Canadian Utilities has a 52-week low of C$38.08 and a 52-week high of C$56.90.

Canadian Utilities (TSE:CU – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%.The business had revenue of C$914.00 million for the quarter. As a group, equities research analysts forecast that Canadian Utilities will post 2.4063556 earnings per share for the current fiscal year.

Canadian Utilities Company Profile

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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.

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