National Bank Financial Estimates TransAlta FY2024 Earnings

TransAlta Co. (TSE:TA) (NYSE:TAC) – Analysts at National Bank Financial increased their FY2024 EPS estimates for shares of TransAlta in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $0.61 per share for the year, up from their prior estimate of $0.60. National Bank Financial also issued estimates for TransAlta’s FY2026 earnings at $0.68 EPS and FY2027 earnings at $1.12 EPS.

Several other research firms have also recently issued reports on TA. TD Securities upped their price target on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. CIBC downgraded TransAlta from an “outperform” rating to a “neutral” rating and boosted their target price for the company from C$17.00 to C$23.00 in a research note on Wednesday. Royal Bank of Canada raised their price target on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Finally, BMO Capital Markets boosted their target price on shares of TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TransAlta has a consensus rating of “Moderate Buy” and a consensus target price of C$18.33.

TransAlta Price Performance

Shares of TransAlta stock opened at C$19.08 on Thursday. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$20.98. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The company’s 50-day moving average price is C$17.27 and its two-hundred day moving average price is C$13.63. The stock has a market cap of C$5.69 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

TransAlta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Sunday, December 1st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is presently 12.63%.

Insiders Place Their Bets

In other news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$15.11, for a total transaction of C$377,750.00. Also, Director John Harry Kousinioris sold 69,982 shares of TransAlta stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total value of C$1,060,227.30. Insiders sold 204,763 shares of company stock worth $3,478,670 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.