Equities Analysts Issue Forecasts for TransAlta Co.’s Q3 2024 Earnings (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Stock analysts at Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for shares of TransAlta in a research note issued on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.35. The consensus estimate for TransAlta’s current full-year earnings is $0.47 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $1.10 EPS and FY2026 earnings at $0.80 EPS.

TA has been the subject of a number of other reports. National Bankshares decreased their target price on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. TD Securities lowered their price objective on TransAlta from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. CIBC cut their target price on shares of TransAlta from C$18.50 to C$16.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. BMO Capital Markets lowered their price target on shares of TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Finally, Royal Bank of Canada cut their price objective on shares of TransAlta from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$15.55.

TransAlta Stock Performance

TA stock opened at C$9.74 on Wednesday. The business has a 50 day moving average of C$8.90 and a 200-day moving average of C$9.92. The firm has a market cap of C$3.00 billion, a PE ratio of 4.18, a P/E/G ratio of -0.07 and a beta of 0.89. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$13.97. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 253.18.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings data on Friday, February 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.45). The firm had revenue of C$624.00 million for the quarter. TransAlta had a return on equity of 43.58% and a net margin of 20.71%.

TransAlta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is presently 10.30%.

About TransAlta

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.