TransAlta (TSE:TA) Issues Quarterly Earnings Results

TransAlta (TSE:TA) (NYSE:TAC) announced its quarterly earnings data on Tuesday. The company reported C$0.18 earnings per share for the quarter, FiscalAI reports. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%. The firm had revenue of C$536.00 million for the quarter.

TransAlta Price Performance

Shares of TSE TA opened at C$17.81 on Tuesday. The stock has a market cap of C$5.63 billion, a price-to-earnings ratio of -57.45, a PEG ratio of -0.07 and a beta of 0.54. TransAlta has a 52 week low of C$15.62 and a 52 week high of C$25.03. The company’s 50-day moving average price is C$17.41 and its 200 day moving average price is C$17.98. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 238.01.

Insider Transactions at TransAlta

In other TransAlta news, insider Michael Politeski purchased 5,000 shares of TransAlta stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of C$16.02 per share, with a total value of C$80,100.00. Following the completion of the acquisition, the insider directly owned 90,000 shares of the company’s stock, valued at approximately C$1,441,800. This trade represents a 5.88% increase in their ownership of the stock. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Separately, Canadian Imperial Bank of Commerce lowered their target price on shares of TransAlta from C$26.00 to C$24.50 in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given 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 a consensus target price of C$24.61.

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.