Capital Power Receives Price Objective Cut by RBC
Capital Power (TSE:CPX) recently experienced a price objective cut by research analysts at Royal Bank of Canada (RBC). RBC revised the price target from C$50.00 to C$48.00, indicating a potential upside of 14.29% from the stock's previous close. The firm currently maintains a "sector perform" rating on the stock.
Analyst Reports from Various Brokerages
In addition to RBC, several other brokerages have also released reports on CPX. CSFB increased their price target on Capital Power from C$53.50 to C$54.00 on March 31st. On the other hand, Raymond James lowered their price target from C$53.00 to C$50.00 and assigned a "market perform" rating for the company on March 2nd. TD Securities also reduced their price target from C$56.00 to C$54.00 while maintaining a "buy" rating on the stock on March 2nd.
Similarly, BMO Capital Markets lowered their price target from C$52.00 to C$50.00 on March 2nd. However, CIBC increased their price target from C$50.00 to C$51.00 on May 2nd. Overall, five equities research analysts have rated the stock as "hold," while two have given it a "buy" rating. According to data from MarketBeat.com, the average rating for Capital Power is currently "Hold," with an average price target of C$51.90.
Capital Power Stock Performance
On Friday, Capital Power (TSE:CPX) traded down to C$42.00. The company's stock had a trading volume of 96,725 shares, compared to its average volume of 362,757. Capital Power has a market capitalization of C$4.91 billion and a price-to-earnings ratio of 18.62. With a beta of 0.58, the stock exhibits relatively lower volatility compared to the market. Over the past twelve months, Capital Power's stock price has ranged from a low of C$40.06 to a high of C$51.90. The fifty-day moving average price is C$44.93, while the 200-day moving average price is C$44.37.
Capital Power's Recent Earnings Report
In its most recent earnings report on May 1st, Capital Power reported earnings per share of C$2.38 for the quarter, surpassing the consensus estimate of C$1.22 by C$1.16. The company generated revenue of C$1.27 billion during the quarter. Capital Power achieved a net margin of 8.68% and a return on equity of 10.18%. Analysts anticipate that Capital Power will post 4.5078864 EPS for the current fiscal year.
Expansion Plans and Future Outlook
Despite the recent price objective cut, Capital Power remains focused on expanding its power generation portfolio. The company continues to pursue opportunities in renewable energy, with a strong emphasis on wind and solar projects. Capital Power aims to contribute to the transition to a low-carbon economy by increasing its renewable energy capacity. Additionally, the company is exploring potential acquisitions and partnerships to further strengthen its position in the energy sector.
Looking ahead, Capital Power is well-positioned to capitalize on the growing demand for clean and sustainable energy solutions. As governments and industries worldwide increasingly prioritize renewable energy, the company's diversified portfolio and commitment to innovation position it for long-term success. Investors will closely monitor Capital Power's performance and strategic initiatives as they assess the potential for future growth and returns in the evolving energy landscape.
Overview of Capital Power Corporation
Capital Power Corporation is involved in the development, acquisition, ownership, and operation of renewable and thermal power generation facilities in Canada and the United States. The company generates electricity from various sources, including wind, solar, waste heat, natural gas, and coal. With approximately 7,500 megawatts of power generation capacity
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