TransAlta (TA) Given Average Rating of “Hold” by Analysts

TransAlta (TSE:TA) (NYSE:TAC) has been given a consensus rating of “Hold” by the eight research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$8.13.

A number of analysts recently issued reports on TA shares. Scotiabank upgraded TransAlta from a “sector perform” rating to an “outperform” rating and set a C$9.00 price target for the company in a report on Wednesday, February 28th. BMO Capital Markets lowered their price target on TransAlta from C$8.00 to C$7.50 in a report on Wednesday. National Bank Financial lowered their price target on TransAlta from C$9.50 to C$8.00 and set a “sector perform” rating for the company in a report on Monday, January 29th. Canaccord Genuity set a C$7.00 price target on TransAlta and gave the company a “hold” rating in a report on Friday, May 4th. Finally, CIBC lowered their price target on TransAlta from C$8.50 to C$8.00 in a report on Wednesday.

In related news, Director Georgia Ricci Nelson bought 5,000 shares of the stock in a transaction on Wednesday, March 21st. The stock was bought at an average price of C$5.60 per share, for a total transaction of C$28,000.00. In the last 90 days, insiders have acquired 10,027 shares of company stock valued at $56,588.

Shares of TransAlta traded down C$0.05, reaching C$6.66, during mid-day trading on Friday, according to MarketBeat. 251,600 shares of the company’s stock traded hands, compared to its average volume of 541,497. TransAlta has a 12 month low of C$6.31 and a 12 month high of C$8.50.

TransAlta (TSE:TA) (NYSE:TAC) last released its earnings results on Thursday, March 1st. The company reported C($0.14) EPS for the quarter, missing analysts’ consensus estimates of C$0.01 by C($0.15). The business had revenue of C$638.00 million for the quarter, compared to the consensus estimate of C$605.06 million. TransAlta had a negative net margin of 6.46% and a negative return on equity of 4.34%.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.16 dividend on an annualized basis and a yield of 2.40%.

TransAlta Company Profile

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.

Analyst Recommendations for TransAlta (TSE:TA)

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