Today, an analyst has provided a rating update for the Financial sector company, Power Corp of Canada (POW – Research Report). Analyst Jaeme Gloyn from National Bank reiterated a Hold rating, with a C$41.00 price target.
According to TipRanks.com, Gloyn is a 5-star analyst with an average return of 12.4% and a 56.2% success rate. Gloyn covers the Financial sector, focusing on stocks such as Fairfax Financial Holdings, Element Fleet Management, and Equitable Group.
Power Corp of Canada has an analyst consensus of Hold, with a price target consensus of C$43.37.
Based on Power Corp of Canada’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$19.11 billion and net profit of C$15.84 billion. In comparison, last year the company earned revenue of C$19.48 billion and had a net profit of C$639 million.
Incorporated in 1925, Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Lifeco (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). In December 2019, Power Corp. announced it would buy out the remaining shares of Power Financial. This transaction was completed in February 2020.
The company’s shares closed last Tuesday at C$35.30.
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