Newalta Given Consensus Recommendation of “Buy” by Brokerages (TSE:NAL)
Newalta (TSE:NAL) has earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, AnalystRatingsNetwork.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$22.40.
A number of analysts have recently weighed in on NAL shares. Analysts at Mackie upgraded shares of Newalta from a “hold” rating to a “buy” rating in a research note on Friday. They now have a C$22.70 price target on the stock, up previously from C$20.00. Separately, 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. Finally, 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. They now have an “outperform” rating on the stock.
Newalta (TSE:NAL) opened at 20.46 on Friday. Newalta has a 1-year low of $14.81 and a 1-year high of $21.75. The stock has a 50-day moving average of $20.67 and a 200-day moving average of $19.66. The company has a market cap of $1.141 billion and a P/E ratio of 77.46.
Newalta (TSE:NAL) last announced its earnings results on Friday, August 8th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.07. On average, analysts predict that Newalta will post $1.12 earnings per share for the current fiscal year.
Newalta Corporation (TSE:NAL) is a Canada-based company.
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