CIBC Cuts TransCanada to Outperform (TRP)

By admin | 6 years ago

TransCanada (NYSE: TRP) was downgraded by investment analysts at CIBC from an “outperform” rating to an “outperform” rating in a note issued to investors on Monday.

Shares of TransCanada traded down 0.71% during mid-day trading on Monday, hitting $43.12. TransCanada has a 52 week low of $37.29 and a 52 week high of $45.09. The company has a market cap of $30.356 billion and a P/E ratio of 20.78.

TransCanada last announced its earnings results on Friday, April 27th. The company reported $0.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.03. TransCanada’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that TransCanada will post $0.61 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at TD Newcrest downgraded shares of TransCanada to a “hold” rating in a research note to investors on Tuesday, February 28th. They noted that the move was a valuation call. Separately, analysts at TD Securities downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, February 28th. Finally, analysts at Deutsche Bank (NYSE: DB) initiated coverage on shares of TransCanada in a research note to investors on Tuesday, February 14th. They set a “hold” rating on the stock.

TransCanada Corporation (TransCanada) is an energy infrastructure company focused on pipelines and energy.

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