TransAlta (TSE:TA) Issues Quarterly Earnings Results
by Teresa Graham · The Cerbat GemTransAlta (TSE:TA – Get Free Report) (NYSE:TAC) issued its quarterly earnings data on Wednesday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. The business had revenue of C$560.00 million during the quarter. TransAlta had a negative net margin of 5.74% and a negative return on equity of 8.84%.
TransAlta Stock Performance
Shares of TA traded down C$0.33 during trading hours on Thursday, hitting C$17.12. The stock had a trading volume of 206,223 shares, compared to its average volume of 1,317,404. The firm has a market capitalization of C$5.08 billion, a PE ratio of -26.75, a PEG ratio of -0.07 and a beta of 0.54. The company has a debt-to-equity ratio of 320.51, a current ratio of 0.73 and a quick ratio of 0.62. TransAlta has a 12 month low of C$11.56 and a 12 month high of C$25.03. The stock has a fifty day moving average price of C$17.76 and a 200 day moving average price of C$18.81.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on TA. Jefferies Financial Group lowered their price objective on TransAlta from C$27.00 to C$22.00 in a research note on Wednesday, January 21st. Desjardins cut their price objective on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating on the stock in a research report on Tuesday, February 10th. National Bank Financial raised shares of TransAlta from a “hold” rating to an “outperform” rating and set a C$22.00 target price for the company in a report on Tuesday, March 24th. Finally, ATB Cormark Capital Markets increased their target price on TransAlta from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, TransAlta presently has an average rating of “Moderate Buy” and a consensus price target of C$24.25.
Check Out Our Latest Report on TA
Insider Activity
In other news, insider Christopher Douglas Fralick sold 36,453 shares of the company’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of C$17.90, for a total transaction of C$652,508.70. Following the completion of the sale, the insider owned 46,939 shares of the company’s stock, valued at C$840,208.10. This represents a 43.71% decrease in their position. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$17.45, for a total transaction of C$174,500.00. Following the completion of the transaction, the insider directly owned 103,953 shares in the company, valued at approximately C$1,813,979.85. The trade was a 8.78% decrease in their position. Insiders sold 70,953 shares of company stock worth $1,262,409 over the last three months. Insiders own 0.21% of the company’s stock.
About TransAlta
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.