TransAlta Corporation (NYSE:TAC)
March 18th, 2019
With markets going up TransAlta Corporation closed Monday up 7.16%, a $0.44 increase to close on $6.66. Furthermore it hit a new 52 week high of $6.68. In addition to finishing higher, trading volumes were solid at 256.00% of normal which can indicate investors see opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.39.
TAC outperformed the rest of the Utilities sector which went down -0.41% today.
Expectations from 4 analysts indicates that TransAlta Corporation might increase somewhat (3.38%), while Finbox has calculated (with medium uncertainty) a fair value price of $6.95.
The market sectors were mixed Monday with a majority of the sectors trending up. Energy saw the biggest increase of the day (1.39%), while Communication Services saw the biggest drop (-0.80%). Information Technology has seen the biggest year-to-date gain at 17.76%.
Communication Services and Real Estate experienced turn arounds from their five day positive performance, Communication Services with a drop of -0.80%.
- Energy went up with a 1.39% change.
- Consumer Discretionary went up with a 1.05% change.
- Financials went up with a 1.03% change.
- Industrials went up with a 0.87% change.
- Information Technology went up with a 0.41% change.
- Consumer Staples went up with a 0.27% change.
- Materials went up with a 0.16% change.
- Healthcare went down with a -0.15% change.
- Utilities went down with a -0.41% change.
- Real Estate went down with a -0.51% change.
- Communication Services went down with a -0.80% change.
TransAlta Corporation Info
TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. It generates and markets electricity through various generation facilities. The company has an aggregate net ownership interest of approximately 8,546 megawatts of generating capacity. TransAlta Corporation was founded in 1909 and is headquartered in Calgary, Canada.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that TransAlta Corporation’s score is 0.39) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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