Canadian Utilities (TSE:CU) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Canadian Utilities Limited (TSE:CU – Get Free Report)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$50.99 and traded as low as C$49.89. Canadian Utilities shares last traded at C$50.59, with a volume of 627,945 shares traded.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on Canadian Utilities

Canadian Utilities Trading Up 0.8%

The stock has a market capitalization of C$13.89 billion, a price-to-earnings ratio of 318.75, a PEG ratio of 2.38 and a beta of 0.47. The company has a debt-to-equity ratio of 184.88, a current ratio of 1.80 and a quick ratio of 1.30. The business’s 50-day simple moving average is C$52.34 and its two-hundred day simple moving average is C$51.00.

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

Canadian Utilities Company Profile

(Get Free Report)

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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