Hydro One (H), the Utilities sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. CIBC’s analyst Mark Jarvi reiterates their Hold rating on the shares, with a C$25.00 price target.
According to TipRanks.com, Jarvi is a 3-star analyst with an average return of 1.9% and a 60.0% success rate. Jarvi covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities Corp, Just Energy Group Inc, and Northland Power Inc.
Currently, the analyst consensus on Hydro One is a Hold with an average price target of C$24.86.
Based on Hydro One’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.41 billion and net profit of C$159 million. In comparison, last year the company earned revenue of C$1.61 billion and had a net profit of C$198 million.
Hydro One Ltd. engages in the transmission and distribution of electricity. The company was founded on August 31, 2015 and is headquartered in Toronto, Canada.
The company’s shares closed last Wednesday at C$24.27, close to its 52-week high of C$25.06.
