TransAlta (TSE:TA) Price Target Cut to C$16.00

TransAlta (TSE:TA) (NYSE:TAC) had its price objective cut by CIBC from C$18.50 to C$16.00 in a report released on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on TA. BMO Capital Markets lowered their price objective on TransAlta from C$17.00 to C$16.00 and set an outperform rating on the stock in a research report on Monday, February 26th. TD Securities lowered their price target on shares of TransAlta from C$15.00 to C$14.00 and set a buy rating on the stock in a report on Monday, February 26th. National Bankshares reduced their price objective on shares of TransAlta from C$14.00 to C$13.00 and set an outperform rating for the company in a report on Tuesday, January 30th. Finally, Royal Bank of Canada lowered their target price on shares of TransAlta from C$15.00 to C$14.00 and set an outperform rating on the stock in a research note on Monday, February 26th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TransAlta presently has a consensus rating of Buy and an average price target of C$15.55.

TransAlta Price Performance

TA stock opened at C$8.89 on Friday. The stock has a market capitalization of C$2.73 billion, a price-to-earnings ratio of 3.82, a price-to-earnings-growth ratio of -0.07 and a beta of 0.89. The company has a 50-day moving average of C$8.93 and a two-hundred day moving average of C$10.07. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$13.97. The company has a debt-to-equity ratio of 253.18, a current ratio of 0.91 and a quick ratio of 0.62.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings results on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.45). TransAlta had a return on equity of 43.58% and a net margin of 20.71%. The business had revenue of C$624.00 million for the quarter. As a group, equities research analysts anticipate that TransAlta will post 0.4700714 EPS for the current year.

About TransAlta

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.