TransAlta (TA) Set to Announce Quarterly Earnings on Friday

TransAlta (TSE:TAGet Rating) (NYSE:TAC) will be announcing its earnings results before the market opens on Friday, August 5th. Analysts expect the company to announce earnings of C$0.23 per share for the quarter.

TransAlta (TSE:TAGet Rating) (NYSE:TAC) last posted its earnings results on Friday, May 6th. The company reported C$0.57 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.47. The firm had revenue of C$735.00 million for the quarter.

TransAlta Stock Performance

TransAlta stock opened at C$14.59 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 149.96. The firm has a 50-day moving average of C$14.53 and a 200-day moving average of C$13.71. The firm has a market cap of C$3.95 billion and a P/E ratio of -10.99. TransAlta has a 1-year low of C$11.87 and a 1-year high of C$15.28.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. CSFB increased their target price on shares of TransAlta from C$17.00 to C$18.00 in a report on Wednesday, April 20th. National Bankshares raised their price objective on shares of TransAlta from C$14.00 to C$15.00 and gave the stock a “sector perform” rating in a report on Monday, May 9th. Credit Suisse Group raised their price objective on shares of TransAlta from C$18.00 to C$18.50 and gave the stock an “outperform” rating in a report on Monday. Finally, BMO Capital Markets restated a “buy” rating and issued a C$17.00 price objective on shares of TransAlta in a report on Monday, May 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.25.

Insider Buying and Selling at TransAlta

In other TransAlta news, Senior Officer Kerry Lynn O’reilly sold 103,081 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of C$14.01, for a total transaction of C$1,444,618.37. Following the completion of the transaction, the insider now owns 67,447 shares of the company’s stock, valued at C$945,229.24. In related news, Senior Officer Jane Nyla Fedoretz sold 84,162 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of C$14.27, for a total transaction of C$1,200,991.74. Following the completion of the sale, the insider now owns 67,613 shares of the company’s stock, valued at C$964,837.51. Also, Senior Officer Kerry Lynn O’reilly sold 103,081 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of C$14.01, for a total transaction of C$1,444,618.37. Following the sale, the insider now directly owns 67,447 shares of the company’s stock, valued at approximately C$945,229.24.

TransAlta Company Profile

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TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

See Also

Earnings History for TransAlta (TSE:TA)

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