Power Corp of Canada (POW – Research Report), the Financial sector company, was revisited by a Wall Street analyst today. The Financial company, Power Corp of Canada (TSX: POW) has just received a rating update from a Wall Street analyst.
According to TipRanks.com, Aiken is a 1-star analyst with an average return of -2.5% and a 42.9% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Element Fleet Management, and National Bank of Canada.
The word on The Street in general, suggests a Hold analyst consensus rating for Power Corp of Canada with a C$40.50 average price target, implying a 13.3% upside from current levels. In a report issued on May 15, RBC Capital also maintained a Hold rating on the stock with a C$41.00 price target.
Based on Power Corp of Canada’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$9.52 billion and net profit of C$313 million. In comparison, last year the company earned revenue of C$6.09 billion and had a GAAP net loss of C$28.53 billion.
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 Friday at C$35.68.
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