TransAlta Renewables (TSE:RNW) Downgraded by Royal Bank of Canada

TransAlta Renewables (TSE:RNW – Get Rating) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Wednesday, BayStreet.CA reports. They presently have a C$21.00 price objective on the stock. Royal Bank of Canada’s price target suggests a potential upside of 13.82% from the stock’s previous close.

Several other brokerages have also recently issued reports on RNW. National Bankshares dropped their price objective on shares of TransAlta Renewables from C$19.00 to C$18.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 12th. Scotiabank lowered their price target on shares of TransAlta Renewables from C$19.00 to C$18.50 in a research note on Thursday, January 27th. CIBC lowered their price objective on shares of TransAlta Renewables from C$19.50 to C$19.00 and set a “neutral” rating on the stock in a research note on Monday, February 28th. TD Securities reduced their target price on shares of TransAlta Renewables from C$19.50 to C$18.00 and set a “hold” rating on the stock in a report on Wednesday, January 12th. Finally, ATB Capital reduced their target price on shares of TransAlta Renewables from C$21.00 to C$19.00 in a report on Wednesday, January 12th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$19.20.

TSE:RNW traded down C$0.89 during mid-day trading on Wednesday, hitting C$18.45. The stock had a trading volume of 498,274 shares, compared to its average volume of 477,754. The stock has a 50-day simple moving average of C$17.81 and a two-hundred day simple moving average of C$18.27. The company has a market capitalization of C$4.92 billion and a PE ratio of 35.31. TransAlta Renewables has a twelve month low of C$16.01 and a twelve month high of C$22.55. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 46.21.

TransAlta Renewables (TSE:RNW – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported C$0.16 EPS for the quarter, missing the consensus estimate of C$0.21 by C($0.05). The company had revenue of C$138.00 million for the quarter, compared to analysts’ expectations of C$121.90 million. Sell-side analysts predict that TransAlta Renewables will post 0.7999999 EPS for the current fiscal year.

TransAlta Renewables Company Profile (Get Rating)

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 3, 2021, it owned and operated 23 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, 1 natural gas pipeline, and 1 battery storage comprising an ownership interest of 2,537 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.

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