ATB Cormark Capital Markets Issues Pessimistic Forecast for Transcontinental (TSE:TCL.A) Stock Price

Transcontinental (TSE:TCL.A) had its price objective reduced by analysts at ATB Cormark Capital Markets from C$7.00 to C$6.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would suggest a potential upside of 18.81% from the stock’s current price.

Several other research firms have also recently weighed in on TCL.A. BMO Capital Markets lowered their price target on Transcontinental from C$27.00 to C$6.25 in a report on Tuesday, March 24th. TD Securities lowered their price target on Transcontinental from C$28.00 to C$8.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$17.00.

Transcontinental Stock Up 7.2%

TCL.A stock traded up C$0.34 during midday trading on Friday, hitting C$5.05. The company’s stock had a trading volume of 501,511 shares, compared to its average volume of 775,541. The company has a market cap of C$422.28 million, a PE ratio of 2.92, a P/E/G ratio of 6.05 and a beta of 0.53. Transcontinental has a 12 month low of C$4.16 and a 12 month high of C$25.65. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12. The firm’s 50-day moving average is C$5.37 and its 200-day moving average is C$16.31.

Transcontinental (TSE:TCL.A) last released its quarterly earnings data on Thursday, June 4th. The company reported C$0.19 earnings per share (EPS) for the quarter. The business had revenue of C$269.20 million for the quarter. Transcontinental had a return on equity of 6.16% and a net margin of 4.05%. On average, equities research analysts forecast that Transcontinental will post 2.439834 earnings per share for the current fiscal year.

Transcontinental Company Profile

Transcontinental, or TC Transcontinental, is a Canadian printer and flexible packaging provider that operates in three segments: packaging, printing, and other. Its packaging segment features the production of different plastic products geared toward consumer goods. Production plants specialize in extrusion, lamination, printing, and converting. The company offers premedia, printing, and distribution services through the printing segment. Publishers, retailers, cataloguers, and marketers are some of the customers who tap TC Transcontinental for these printing solutions.