RE:RE:RE:OversoldCPX apears to be good value here if the day traders would just stop range trading this thing long enough for it to break out above $37.
RBC estimates annual earnings of $6.79 CAD in 2024 which (at the current share price) equates to a Forward PE of 5.2. RSI shows this is near a bottom and if Q1 earnings on Wednesday come in decent, then it should start moving up from here. If BoC begins to lower rates in June as widely anticipated that will be a good catalyst for utilities and telecoms to finally get out of the penalty box.
RBC is estimating Q1 earnings of $1.68 CAD but if Q1 earnings seriously disappoint and this thing breaks below $35, then its next stop is about $30 bucks.
Pays a great dividend but this company has significant long term debt which is a bit concerning.
Bought a couple thousand shares today and am cautiously optomistic! If earnings beat then I'll be looking to add more. Tommorrow is dividend pay day.
HB77