National Bank Financial Cuts TransAlta (TSE:TA) Price Target to C$10.00

TransAlta (TSE:TA) (NYSE:TAC) had its price target reduced by National Bank Financial from C$11.00 to C$10.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock. National Bank Financial also issued estimates for TransAlta’s FY2019 earnings at ($0.18) EPS.

Separately, CIBC lifted their target price on shares of TransAlta from C$9.00 to C$10.00 in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of C$10.50.

Shares of TSE:TA opened at C$8.37 on Tuesday. The firm has a fifty day moving average of C$8.18 and a two-hundred day moving average of C$8.54. The firm has a market capitalization of $2.44 billion and a P/E ratio of -6.34. TransAlta has a 12-month low of C$5.44 and a 12-month high of C$10.14. The company has a quick ratio of 1.09, a current ratio of 1.63 and a debt-to-equity ratio of 82.35.

TransAlta (TSE:TA) (NYSE:TAC) last issued its earnings results on Tuesday, May 14th. The company reported C($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.18). The business had revenue of C$648.00 million for the quarter. Equities research analysts expect that TransAlta will post -0.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, August 30th. TransAlta’s dividend payout ratio (DPR) is currently -12.11%.

In other TransAlta news, Senior Officer Todd John Stack purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of C$8.57 per share, for a total transaction of C$25,704.00. Following the acquisition, the insider now owns 5,813 shares of the company’s stock, valued at C$49,805.78.

About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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Analyst Recommendations for TransAlta (TSE:TA)

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