Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CAPITAL POWER CORP. We currently have 6 research reports from 1 professional analysts.
|28Mar17 21:00||MKW||Capital Power enters into a cost savings agreement related to the Genesee Mine|
|21Feb17 13:00||MKW||Capital Power reports fourth quarter and year-end 2016 results|
|17Feb17 21:00||MKW||Capital Power declares dividends for its Common and Preference shares|
|24Mar16 13:00||MKW||Capital Power Terminates Sundance C Power Purchase Arrangement|
|18Feb16 21:57||MKW||Capital Power Reports Fourth Quarter and Year-End 2015 Results|
|18Feb16 21:00||MKW||Capital Power Declares Dividends for Its Common and Cumulative Rate Reset Preference Shares|
|27Nov15 14:00||MKW||Capital Power Announces Approval of Amended Normal Course Issuer Bid for Purchase of up to 8.37 Million of Its Common Shares|
Frequency of research reports
Research reports on
CAPITAL POWER CORP
CAPITAL POWER CORP
ANNOUNCES $150 MM PREF OFFERING
22 Sep 16
Impact: Neutral, as the Company looks to refinance and reduce its outstanding credit facility. Including this bought deal, preferred equity will be valued at $675 mm - $725 mm; we would assume that the impact to CFPS and EPS will be net neutral as preferred share dividends will offset interest costs.
ISSUES 10-YEAR NOTE AT 3.85%
13 Sep 16
Impact: Neutral Capital Power has issued a C$160 mm 10-year unsecured note that carries an interest rate of 3.85%. The purchaser is Prudential Capital Group, who also holds a US$75 mm note issued by a wholly owned subsidiary of Capital Power. This new note ranks pari-passu with Capital Power's other senior unsecured borrowings.
Reports Positive 2Q16 and 6.8% Dividend Increase
26 Jul 16
Capital Power’s 2Q16 results were positive: adjusted EPS was $0.30/share (FCC/ Street $0.18/share); FFO was $106 mm (FCC $88 mm). The Company increased its quarterly dividend by 6% to an annualized $1.56/share. We have increased our 12-month target price to $19.00/share and forecast a 12-month total return of 2% from the July 25, 2016 closing price of $20.06/share.
1Q16 RESULTS: ADJ. EPS $0.33 ("STREET": $0.34, FCC $0.33)
25 Apr 16
Capital Power's reported adjusted EPS of $0.33/sh was in line with FirstEnergy's estimated $0.33/sh and the street's $0.34/share. The adjustment does not include the $46 mm post-tax charge for Capital Power's termination of the Sundance PPA, effective March 24, 2016; with this charge, actual EPS was a loss of $0.11/sh.
N+1 Singer - T. Clarke - Strong conclusion to FY16, record order book
28 Mar 17
After significant upgrades at the time of the full year update (PBT forecast +43% FY16; +14% FY17), today’s results are c.4% ahead of our expectations at the PBT level and show strong growth on the prior year (PBT +48%). All regions achieved positive growth in revenue. The outlook statement refers to a still growing order book (£350m at the end of February vs. £330m at the year end) and the strength of recent trading, with London & the South East and Scotland said to be particularly positive. The Group has reiterated its ambitions to improve margins, but we have not incorporated this into our forecasts at this stage. We have nudged up our FY’17 forecasts (PBT +5%) and introduced FY’18 forecasts that imply 2% PBT growth. Despite the well justified bounce in the share price, the shares still trade at a significant discount to the peer group (7.6x FY17 PE, 4% yield).
Panmure Morning Note 29-03-2017
29 Mar 17
We are cutting our recommendation to HOLD as we see little upside from current levels given the lack of positive surprises in today’s trading update. Multiples of 4.4x 2017 sales and 17x 2017 EBITDA imply an expectation of at least slightly exceeding expectations. We had assumed that acquisitions will provide the momentum until organic investments deliver. However, acquisitions are proving elusive and excess cash is diluting returns. Moreover, our forecast relies on at least one order in vehicle simulator market, which has yet to be announced. The management has shown that it can use the financial markets to raise equity but it now needs to show that it can deploy excess equity productively.
N+1 Singer - Severfield - Strong H2 drives upgrades; CEO temporarily steps down due to ill health
28 Mar 17
Severfield’s trading update highlights that trading during H2 was strong and the Group now expects results to be ahead of expectations. Cash flow performance has been similarly strong with net funds at the year end also expected to be ahead of expectations. The strong performance was driven by both a better than expected revenue performance and better than expected growth in the operating margin. We expect to increase our FY16 PBT forecasts by c.9% to around £19.5m. In addition, we are disappointed to see that Ian Lawson (CEO) has taken a temporary leave of absence due to physical ill health. John Dodds (non-executive Chairman) will step up to Executive Chairman on an interim basis and Alan Dunsmore (FD) has agreed to assume the role of CEO on a similar basis. This should ensure the continuity of the business whilst Ian is recovering. The outlook for Sevefield remains positive and the Group has reiterated its medium term target to double PBT from £13.2m in FY16 by FY20. We remain positive on Severfield (one of our best ideas for 2017) and continue to see clear potential for it to outperform its medium term targets.
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)