Canadian Utilities (CU) Set to Announce Quarterly Earnings on Friday

Canadian Utilities (TSE:CU) is scheduled to issue its quarterly earnings data before the market opens on Friday, August 2nd. Analysts expect the company to announce earnings of C$0.42 per share for the quarter.

Canadian Utilities (TSE:CU) last posted its earnings results on Thursday, May 2nd. The company reported C$0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.80 by C$0.03. The company had revenue of C$1.09 billion for the quarter. Canadian Utilities had a return on equity of 9.25% and a net margin of 17.49%.

Canadian Utilities Stock Performance

Canadian Utilities stock opened at C$32.33 on Thursday. The stock’s 50 day simple moving average is C$30.59 and its two-hundred day simple moving average is C$30.72. The company has a debt-to-equity ratio of 145.09, a quick ratio of 1.30 and a current ratio of 1.03. The stock has a market cap of C$6.62 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.38 and a beta of 0.60. Canadian Utilities has a fifty-two week low of C$28.13 and a fifty-two week high of C$33.35.

Canadian Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 8th will be given a dividend of $0.453 per share. The ex-dividend date is Thursday, August 8th. This represents a $1.81 annualized dividend and a yield of 5.60%. Canadian Utilities’s payout ratio is 84.58%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CU shares. CIBC lowered their target price on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Scotiabank lifted their target price on shares of Canadian Utilities from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$34.67.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.