20 days have passed by since the last earnings report for TransGlobe Energy Corporation (NASDAQ:TGA) and the new quarterly results look set to arrive in 106 days. The shares of TGA at the moment are trading at a volume of 0.3 million, which compares with its normal daily standard volume of 132.23 million shares. This has led to the shares of the company declining by -4.24%, currently exchanging hands at $1.13 a share. TGA stock has been up by $1.31 (-53.69%) ever since it reached its 52-week high of $2.44 back in November 19, 2018. It has progressed below its 50-day moving average of $1.2443 and is down -7.38% over the past week. The stock has retreated -0.8% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the TGA share price due for a breakout?
TransGlobe Energy Corporation (TGA) Forecasts And Latest Quarter Earnings
Ahead of their fiscal fourth-quarter to be released on Wednesday, Mar 04, 2020, 0 analysts who are covering the company are estimating that it will record a profit of 0 per share, with analysts having different outlooks from 0 to 0. The current agreed outlook, when compared to the profit recorded last year, is at -$0.17 a share, thus a decrease of -100% is expected. The profit view for a complete financial year for TransGlobe Energy Corporation is expected to be around -$0.37 in current year, a growth of nearly -50.67% from last year which was -$0.75.
Analyzing The Earnings History Of TransGlobe Energy Corporation (NASDAQ:TGA)
In the past few years, the TGA stock has been known to miss the Wall Street’s earnings projection. The company missed 0% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 3 times. Looking at the past trend, the price of TransGlobe Energy Corporation shares had sank following the release of their earnings in 23 of the last 38 quarters.
Looking back, here is how TransGlobe Energy Corporation (TGA) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 3 of the last four earnings reports. The shares of TransGlobe Energy Corporation recorded -1.68%, 3.5%, -0.56% and -1.42%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 5.88%, 2.8%, -2.81% and 1.42%. Their post-earnings price movements have resulted in an average decrease of -0.04% and an average increase of 1.82% in TransGlobe Energy Corporation on next day and 7th day, sequentially. TGA’s one month stock performance led to its shares declining by -9.6% with a return of -48.4% witnessed over the last 52 weeks.
The higher number of analysts has assigned a buy or better ratings (4) on the TransGlobe Energy Corporation stock, while 1 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $2.17. This price target implies potential upside of 92.04 percent over the next 12 months based on the current share price.
TransGlobe Energy Corporation (TGA) Post Earnings Announcement Drift (PEAD)
Back on October 30, 2019, TransGlobe Energy Corporation (NASDAQ:TGA) released its Q3 results, in which it recorded a loss of -$1.60 that fell short of consensus estimates of -$0.05. After the earnings were reported, the price of stock kicked off the session at $1.16 and remained in a range of $1.18 to $1.19 on the first day. The shares were priced at $1.17 at the close with a total volume of shares being 80614.
On August 12, 2019, the Q2 earnings report was disclosed with loss per share of -$0.21. This was below the estimation of -$0.08 per share. The stock’s price was in the range of between $1.42 and $1.48 on the first-day post announcement, after opening the day at $1.4. The session came to close at $1.48 and there was a total volume of 124176 shares.
May 13, 2019 was the day when its Q1 results were unveiled. The loss came in at -$0.14, missing the projected -$0.07 per share. The very next day, price of stock opened at $1.75 while staying in a range of $1.79 to $1.8. At the end, it moved to $1.77 a total volume of shares been 79289.
In the year-ago Q4 earnings on March 13, 2019, the company saw a loss per share of -$0.17. That was worse than the -$0.08 analysts had expected. Company’s share price started at $2.06 on the first full trading day post-earning and then exchanged hands between $2.11 and $2.16 throughout the session. The closing price of $2.08 came on the back of 93920 shares in volume.