TransAlta (TSE:TA) Announces Quarterly Earnings Results

TransAlta (TSE:TA) (NYSE:TAC) posted its quarterly earnings data on Wednesday. The company reported C$0.06 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$560.00 million during the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%.

TransAlta Stock Performance

TA opened at C$17.45 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 317.20. The firm has a market cap of C$5.18 billion, a PE ratio of -27.27, a P/E/G ratio of -0.07 and a beta of 0.54. The business has a fifty day simple moving average of C$17.76 and a 200-day simple moving average of C$18.77. TransAlta has a fifty-two week low of C$11.56 and a fifty-two week high of C$25.03.

Insider Transactions at TransAlta

In other news, insider Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction 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 transaction, the insider owned 103,953 shares in the company, valued at approximately C$1,813,979.85. The trade was a 8.78% decrease in their ownership of the stock. Also, 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 value of C$652,508.70. Following the completion of the transaction, the insider owned 46,939 shares in the company, valued at C$840,208.10. This represents a 43.71% decrease in their position. Insiders sold a total of 70,953 shares of company stock worth $1,262,409 in the last three months. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on TA. ATB Cormark Capital Markets boosted their price target on shares of TransAlta from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Jefferies Financial Group decreased their price objective on shares of TransAlta from C$27.00 to C$22.00 in a report on Wednesday, January 21st. National Bank Financial upgraded shares of TransAlta from a “hold” rating to an “outperform” rating and set a C$22.00 price objective on the stock in a research note on Tuesday, March 24th. Desjardins dropped their target price on TransAlta from C$19.00 to C$18.00 and set a “hold” rating on the stock in a report on Tuesday, February 10th. Finally, TD cut their target price on TransAlta from C$27.00 to C$26.00 and set a “buy” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, TransAlta has a consensus rating of “Moderate Buy” and an average target price of C$24.44.

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.