TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) posted its quarterly earnings results on Thursday. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.27), Morningstar.com reports. TransGlobe Energy had a positive return on equity of 4.40% and a negative net margin of 5.01%. The business had revenue of $42.63 million for the quarter.
Shares of NASDAQ TGA traded down $0.05 during midday trading on Friday, reaching $2.17. 167,938 shares of the company traded hands, compared to its average volume of 535,749. The stock has a market cap of $174.01 million, a PE ratio of -7.75 and a beta of 1.20. TransGlobe Energy has a 12 month low of $1.21 and a 12 month high of $4.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.67 and a current ratio of 2.92.
A number of brokerages have issued reports on TGA. TheStreet raised TransGlobe Energy from a “d” rating to a “c” rating in a report on Friday, September 7th. BidaskClub cut TransGlobe Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Zacks Investment Research cut TransGlobe Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, ValuEngine raised TransGlobe Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $2.75.
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About TransGlobe Energy
TransGlobe Energy Corporation, together with its subsidiaries, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in Egypt and Canada. It holds working interests in West Gharib, West Bakr, North West Gharib, South Alamein, South Ghazalat, and North West Sitra production sharing concessions.
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