TransAlta (TSE:TA) Releases Quarterly Earnings Results

TransAlta (TSE:TA) (NYSE:TAC) issued its quarterly earnings data on Friday. The company reported C$0.18 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$507.00 million during the quarter. TransAlta had a negative net margin of 1.02% and a negative return on equity of 1.50%.

TransAlta Price Performance

TSE:TA opened at C$17.56 on Friday. The business’s 50-day simple moving average is C$19.13 and its two-hundred day simple moving average is C$18.25. TransAlta has a 52 week low of C$15.62 and a 52 week high of C$25.03. The stock has a market cap of C$5.55 billion, a PE ratio of -23.41, a P/E/G ratio of -0.07 and a beta of 0.75. The company has a quick ratio of 0.61, a current ratio of 0.84 and a debt-to-equity ratio of 238.01.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have issued reports on TA. Scotiabank raised TransAlta to a “strong-buy” rating in a report on Wednesday, June 10th. National Bank Financial lifted their price objective on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Desjardins boosted their price objective on TransAlta from C$18.50 to C$19.00 and gave the company a “hold” rating in a research note on Friday, July 3rd. ATB Cormark Capital Markets set a C$28.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, Scotia set a C$27.00 target price on shares of TransAlta and gave the stock a “sector outperform” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.