According to BayStreet.CA, CIBC research analysts increased their price objective for Capital Power (TSE: CPXpricetarget) on Tuesday. They did this by raising it from C$50.00 to C$52.00 in a research note distributed to clients and investors. CIBC’s price estimate indicates that the stock has a potential upside of 14.66% from where it is currently trading. This is in comparison to where it was trading previously.
The stock has received the opinions of several additional research analysts, bringing the total number of these voices to several. In a research report on Friday, December 2nd, ATB Capital raised its price objective on Capital Power shares from $50.00 (Canadian) to $52.00 (Canadian). CSFB announced on November 8th, in a research note published that day, that they were increasing their price objective for Capital Power shares from $53.00 to $56.00. (Canadian). On Tuesday, December 6th, Raymond James increased their target price on shares of Capital Power from C$49.00 to C$53.00 and categorized the stock as “market perform.” The announcement was made by Scotiabank on Friday, December 2nd, in a research note that was published online. In the note, the company stated they would increase their target price for Capital Power shares from $50.00 to $51.00. In a research report published on Monday, December 5th, National Bankshares raised their “outperform” rating for Capital Power and increased their price objective on the stock from C$49.00 to C$50.00. Both of these changes were made in response to recent market developments. The stock has been rated “hold” by five equity research professionals and “buy” by two of the same professionals who evaluated the stock. According to Bloomberg, the most common advice regarding the company is to “hold” its stock, and the consensus regarding the price target for the company is 52.80 Canadian dollars.
The price of the TSE: CPX dropped by C$0.14 during the trading session at noon on Tuesday, and it ultimately reached C$45.35. In contrast to the average volume of 240,992 trades, there were only 85,593 instances in which the stock was traded. The company’s moving average price over the past 50 days is $45.90, and its average price over the past 200 days is $47.18. The company has a price-to-earnings ratio of 43.15, which results in a market capitalization of $5.30 billion for the business. Capital Power’s one-year low price is currently sitting at 36.65 Canadian dollars, while the company’s one-year high price is currently at 51.90 Canadian dollars. It has been determined that the debt-to-equity ratio comes in at 127.20, the quick ratio comes in at 0.55, and the current ratio comes in at 0.76.
The details of Capital Power’s quarterly earnings were made public on October 31st, when the company’s stock on the Toronto Stock Exchange (TSE: CPX) was traded. The company’s quarterly earnings came in at C$1.25 per share, which was C$0.17 more than the average forecast among analysts, which was C$1.08 per share. The corporation reported revenue of 786,000,000 Canadian dollars for the period in question. Industry professionals anticipate that Capital Power will generate profits of $4.2800002 per share during the current fiscal year.
On October 18th, one day after the previous update was released, Senior Officer Bryan Deneve purchased 1,200 shares of company stock. This is another piece of news. The price of one share of the stock was determined to be an average of 43.80 Canadian dollars, which led to a total price of 52,560.00 Canadian dollars being paid. The acquisition has resulted in the insider gaining direct ownership of 1,200 shares of the company’s stock. The total value of these shares is approximately 52,560 Canadian dollars, so the insider’s new wealth is approximately $52,560.
Capital Power Corporation is a company that operates in Canada and the United States and is responsible for developing, acquiring, and operating thermal and renewable power-producing facilities. It draws power from various resources, such as the sun, the wind, waste heat, natural gas, and coal. The company exercises control over approximately 6,600 megawatts of electricity-generating capacity, which is then subdivided and utilized by a total of 26 different power facilities.