TransAlta Receives Average Rating of “Hold” from Brokerages (NYSE:TAC)
TransAlta (NYSE:TAC) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, Stock Ratings News reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $13.75.
Shares of TransAlta (NYSE:TAC) opened at 11.70 on Thursday. TransAlta has a 1-year low of $11.18 and a 1-year high of $14.12. The stock has a 50-day moving average of $11.74 and a 200-day moving average of $11.96. The company’s market cap is $3.199 billion.
TransAlta (NYSE:TAC) last announced its earnings results on Wednesday, July 30th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.08. On average, analysts predict that TransAlta will post $0.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $0.1673 per share. This represents a $0.67 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Wednesday, August 27th.
A number of research firms have recently commented on TAC. Analysts at Scotiabank cut their price target on shares of TransAlta from C$15.00 to C$14.00 in a research note on Thursday, July 31st. They now have a “sector perform” rating on the stock. Analysts at TheStreet upgraded shares of TransAlta from a “sell” rating to a “hold” rating in a research note on Wednesday, July 2nd.
TransAlta Corporation (NYSE:TAC), is engaged in the production and sale of electric energy.