TransAlta (TSE:TA) Posts Earnings Results

TransAlta (TSE:TA) (NYSE:TAC) released its quarterly earnings data on Friday. The company reported C$0.18 EPS for the quarter, FiscalAI reports. The firm had revenue of C$507.00 million for the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%.

TransAlta Trading Down 2.7%

TransAlta stock traded down C$0.48 during mid-day trading on Friday, hitting C$17.56. 1,736,646 shares of the stock were exchanged, compared to its average volume of 1,562,082. TransAlta has a 12 month low of C$15.62 and a 12 month high of C$25.03. The firm’s fifty day simple moving average is C$19.15 and its two-hundred day simple moving average is C$18.25. The stock has a market capitalization of C$5.55 billion, a price-to-earnings ratio of -23.41, a PEG ratio of -0.07 and a beta of 0.75. The company has a quick ratio of 0.61, a current ratio of 0.76 and a debt-to-equity ratio of 317.20.

Insider Activity

In other TransAlta news, insider Michael Politeski bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The shares were bought at an average price of C$19.58 per share, for a total transaction of C$195,800.00. Following the transaction, the insider directly owned 75,000 shares in the company, valued at approximately C$1,468,500. This trade represents a 15.38% increase in their ownership of the stock. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of C$18.25, for a total value of C$182,500.00. Following the sale, the insider directly owned 49,906 shares of the company’s stock, valued at C$910,784.50. This represents a 16.69% decrease in their position. In the last 90 days, insiders have purchased 30,450 shares of company stock worth $557,548 and have sold 25,000 shares worth $445,000. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD set a C$26.00 target price on TransAlta and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Desjardins boosted their price objective on shares of TransAlta from C$18.50 to C$19.00 and gave the company a “hold” rating in a research report on Friday, July 3rd. National Bank Financial raised their price target on shares of TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Scotia set a C$27.00 price target on shares of TransAlta and gave the company a “sector outperform” rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada set a C$24.00 price objective on shares of TransAlta and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$25.00.

TransAlta Company Profile

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.