Scotiabank Increases Power Co. of Canada (POW) Price Target to C$35.50

Power Co. of Canada (TSE:POW) had its target price boosted by Scotiabank from C$35.00 to C$35.50 in a research report released on Monday. Scotiabank currently has a sector perform rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. CIBC raised their price objective on shares of Power Co. of Canada from C$33.00 to C$34.00 in a research report on Monday. Royal Bank of Canada raised their price objective on shares of Power Co. of Canada from C$33.00 to C$34.00 and gave the stock a sector perform rating in a research report on Monday. Barclays cut their price objective on shares of Power Co. of Canada to C$33.00 in a research report on Tuesday, May 8th. BMO Capital Markets cut their price objective on shares of Power Co. of Canada to C$36.00 in a research report on Tuesday, May 8th. Finally, Desjardins cut their price objective on shares of Power Co. of Canada from C$35.00 to C$34.00 in a research report on Friday, March 2nd.

Power Co. of Canada opened at C$29.95 on Monday, Marketbeat reports. Power Co. of Canada has a 12-month low of C$28.20 and a 12-month high of C$33.69.

Power Co. of Canada (TSE:POW) last released its quarterly earnings data on Friday, March 23rd. The financial services provider reported C$0.90 earnings per share (EPS) for the quarter. Power Co. of Canada had a net margin of 8.38% and a return on equity of 14.16%. The firm had revenue of C$14.02 million during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be given a dividend of $0.382 per share. The ex-dividend date is Thursday, June 7th. This is a boost from Power Co. of Canada’s previous quarterly dividend of $0.36. This represents a $1.53 dividend on an annualized basis and a dividend yield of 5.10%.

About Power Co. of Canada

Power Corporation of Canada operates as a diversified international management and holding company with interests primarily in the financial services, sustainable and renewable energy, asset management, communications, and other business sectors in North America, Europe, and Asia. The company operates through Lifeco, IGM Financial, and Pargesa segments.

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