TransAlta (TAC) to Release Quarterly Earnings on Friday

TransAlta (NYSE:TACGet Rating) (TSE:TA) is scheduled to be announcing its earnings results before the market opens on Friday, August 5th. Analysts expect the company to announce earnings of $0.18 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

TransAlta (NYSE:TACGet Rating) (TSE:TA) last posted its quarterly earnings data on Friday, May 6th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.36. The business had revenue of $580.27 million for the quarter, compared to the consensus estimate of $536.65 million. TransAlta had a negative net margin of 12.08% and a positive return on equity of 13.73%. During the same period last year, the firm posted ($0.02) earnings per share. On average, analysts expect TransAlta to post $1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

TransAlta Stock Performance

TAC opened at $11.36 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 1.41. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -10.72 and a beta of 1.03. TransAlta has a 52-week low of $9.44 and a 52-week high of $12.13. The firm’s fifty day simple moving average is $11.32 and its two-hundred day simple moving average is $10.76.

Institutional Investors Weigh In On TransAlta

Hedge funds and other institutional investors have recently bought and sold shares of the company. 1832 Asset Management L.P. increased its position in TransAlta by 153.2% during the first quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 3,326 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of TransAlta during the first quarter valued at about $124,000. Advisors Asset Management Inc. increased its position in shares of TransAlta by 47.9% during the first quarter. Advisors Asset Management Inc. now owns 22,023 shares of the utilities provider’s stock valued at $228,000 after acquiring an additional 7,128 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of TransAlta during the first quarter valued at about $234,000. Finally, UBS Group AG increased its position in shares of TransAlta by 57.1% during the first quarter. UBS Group AG now owns 27,865 shares of the utilities provider’s stock valued at $289,000 after acquiring an additional 10,130 shares during the last quarter. 76.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TAC shares. StockNews.com raised shares of TransAlta from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 19th. National Bank Financial raised their price target on shares of TransAlta from C$14.00 to C$15.00 in a research note on Monday, May 9th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.44.

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 (NYSE:TAC)

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