Newalta Given Average Recommendation of “Buy” by Brokerages (TSE:NAL)
Shares of Newalta (TSE:NAL) have earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the company, American Banking and Market News reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$22.06.
Shares of Newalta (TSE:NAL) traded up 0.55% during mid-day trading on Friday, hitting $20.01. 117,209 shares of the company’s stock traded hands. Newalta has a one year low of $14.65 and a one year high of $21.75. The stock has a 50-day moving average of $20.77 and a 200-day moving average of $19.60. The company has a market cap of $1.119 billion and a P/E ratio of 76.54.
Newalta (TSE:NAL) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.27 by $0.07. On average, analysts predict that Newalta will post $1.11 earnings per share for the current fiscal year.
NAL has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Newalta from C$21.00 to C$23.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at National Bank Financial raised their price target on shares of Newalta from C$22.00 to C$23.00 in a research note on Friday. Finally, analysts at Canaccord Genuity raised their price target on shares of Newalta from C$20.00 to C$20.50 in a research note on Friday. They now have a “hold” rating on the stock.
Newalta Corporation (TSE:NAL) is a Canada-based company.
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