Newalta (NAL) Reaches New 12-Month High at $1.26

Newalta Co. (TSE:NAL) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$1.26 and last traded at C$1.28, with a volume of 11080 shares traded. The stock had previously closed at C$1.26.

A number of brokerages have recently issued reports on NAL. Scotiabank restated an “outperform” rating and issued a C$2.50 price target on shares of Newalta in a research report on Wednesday, May 9th. National Bank Financial downgraded shares of Newalta from an “outperform” rating to a “sector perform” rating and set a C$1.35 target price on the stock. in a research report on Wednesday, March 7th.

Newalta (TSE:NAL) last released its earnings results on Tuesday, March 6th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.13) by C($0.01). Newalta had a negative net margin of 8.20% and a negative return on equity of 11.42%. The company had revenue of C$61.74 million for the quarter, compared to analyst estimates of C$65.60 million.

Newalta Company Profile

Newalta Corporation provides engineered environmental solutions to the oil and gas industry in North America. It operates through two segments, Heavy Oil and Oilfield. The Heavy Oil segment is involved in the treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil; and provision of specialized onsite services using centrifugation or other processes for heavy oil producers involved in heavy oil mining and in situ production.

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