TransAlta (TA) Scheduled to Post Quarterly Earnings on Thursday

TransAlta (TSE:TA) (NYSE:TAC) is scheduled to announce its earnings results before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of C$0.05 per share for the quarter.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Friday, May 3rd. The company reported C$0.72 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.54. The business had revenue of C$947.00 million for the quarter. TransAlta had a return on equity of 33.61% and a net margin of 19.39%.

TransAlta Stock Performance

TSE:TA opened at C$10.19 on Wednesday. The stock’s 50-day simple moving average is C$9.75 and its 200 day simple moving average is C$9.44. The firm has a market capitalization of C$3.10 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of -0.07 and a beta of 0.87. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 217.60. TransAlta has a twelve month low of C$8.22 and a twelve month high of C$13.97.

Insiders Place Their Bets

In other news, Senior Officer Blain Mitchell Van Melle sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$9.75, for a total transaction of C$194,958.00. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, CIBC cut their price target on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TransAlta currently has an average rating of “Buy” and a consensus price target of C$15.17.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.