Newalta Downgraded by Canaccord Genuity to “Hold” (NAL)
Newalta (TSE:NAL) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Tuesday, AnalystRatings.Net reports.
NAL has been the subject of a number of other recent research reports. Analysts at National Bank Financial raised their price target on shares of Newalta from C$21.00 to C$23.50 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Mackie downgraded shares of Newalta from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, analysts at TD Securities raised their price target on shares of Newalta from C$20.00 to C$23.00 in a research note on Monday, March 24th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Newalta has a consensus rating of “Buy” and a consensus target price of C$22.25.
Newalta (TSE:NAL) traded up 2.80% on Tuesday, hitting $20.56. The stock had a trading volume of 175,472 shares. Newalta has a 52 week low of $12.41 and a 52 week high of $20.62. The stock’s 50-day moving average is $19. and its 200-day moving average is $17.09. The company has a market cap of $1.140 billion and a price-to-earnings ratio of 50.00.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, March 28th.
Newalta Corporation (TSE:NAL) is a Canada-based company.
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