TransAlta (TSE:TA) Releases Quarterly Earnings Results

TransAlta (TSE:TA) (NYSE:TAC) issued its quarterly earnings results on Friday. The company reported C$0.18 earnings per share (EPS) for the quarter, FiscalAI reports. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%. The company had revenue of C$507.00 million during the quarter.

TransAlta Trading Down 2.7%

TSE TA opened at C$17.56 on Friday. The stock’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 twelve month low of C$15.62 and a twelve month high of C$25.03. The company has a quick ratio of 0.61, a current ratio of 0.76 and a debt-to-equity ratio of 317.20. The company has a market capitalization of C$5.55 billion, a price-to-earnings ratio of -23.41, a PEG ratio of -0.07 and a beta of 0.75.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TA. ATB Cormark Capital Markets set a C$28.00 price objective on TransAlta and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Scotia set a C$27.00 target price on TransAlta and gave the stock a “sector outperform” rating in a research note on Wednesday, June 10th. National Bank Financial lifted their target price on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Desjardins upped their price target on TransAlta from C$18.50 to C$19.00 and gave the company a “hold” rating in a research report on Friday, July 3rd. Finally, TD set a C$26.00 price target on shares of TransAlta and gave the stock a “buy” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, TransAlta has a consensus rating of “Buy” and a consensus price target of C$25.00.

Insider Transactions at TransAlta

In other TransAlta news, insider Michael Politeski purchased 10,000 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were purchased at an average cost of C$19.58 per share, with a total value of C$195,800.00. Following the completion of the purchase, the insider owned 75,000 shares of the company’s stock, valued at C$1,468,500. The trade was a 15.38% increase in their position. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$17.45, for a total transaction of C$174,500.00. Following the completion of the sale, the insider directly owned 74,906 shares of the company’s stock, valued at C$1,307,109.70. This represents a 11.78% decrease in their ownership of the stock. Over the last three months, insiders have purchased 30,450 shares of company stock worth $557,548 and have sold 25,000 shares worth $445,000. Company insiders own 0.21% of the company’s stock.

About TransAlta

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.