Transcontinental (TSE:TCL.A) Trading Down 2.7% – Here’s What Happened

Transcontinental Inc. (TSE:TCL.A)’s share price dropped 2.7% during trading on Thursday . The stock traded as low as C$4.75 and last traded at C$5.08. Approximately 108,220 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 762,165 shares. The stock had previously closed at C$5.22.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TCL.A. BMO Capital Markets lowered their price objective on Transcontinental from C$6.25 to C$6.00 and set a “market perform” rating on the stock in a research note on Friday. TD Securities lowered their price objective on Transcontinental from C$28.00 to C$8.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. ATB Cormark Capital Markets lowered their price objective on Transcontinental from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Canadian Imperial Bank of Commerce lowered their price objective on Transcontinental from C$8.00 to C$7.00 and set an “outperformer” rating on the stock in a research note on Friday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Transcontinental currently has a consensus rating of “Moderate Buy” and an average target price of C$17.00.

Transcontinental Stock Performance

The company has a market capitalization of C$423.11 million, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 6.05 and a beta of 0.48. The firm has a 50 day moving average price of C$5.37 and a two-hundred day moving average price of C$16.24. The company has a debt-to-equity ratio of 54.12, a quick ratio of 1.09 and a current ratio of 1.49.

Transcontinental (TSE:TCL.A) last released its quarterly earnings data on Thursday, June 4th. The company reported C$0.19 earnings per share for the quarter. Transcontinental had a return on equity of 6.16% and a net margin of 4.05%.The company had revenue of C$269.20 million for the quarter. On average, research analysts expect that Transcontinental Inc. will post 2.439834 earnings per share for the current fiscal year.

About Transcontinental

Transcontinental, or TC Transcontinental, is a Canadian printer and flexible packaging provider that operates in three segments: packaging, printing, and other. Its packaging segment features the production of different plastic products geared toward consumer goods. Production plants specialize in extrusion, lamination, printing, and converting. The company offers premedia, printing, and distribution services through the printing segment. Publishers, retailers, cataloguers, and marketers are some of the customers who tap TC Transcontinental for these printing solutions.