Q1 2024 Earnings Estimate for TransAlta Co. (TSE:TA) Issued By Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Equities research analysts at Atb Cap Markets lifted their Q1 2024 earnings per share estimates for shares of TransAlta in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn $0.19 per share for the quarter, up from their prior forecast of $0.14. 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 $0.75 EPS.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings data on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.45). The company 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%.

Several other research analysts have also recently issued reports on TA. TD Securities decreased their price target on TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a research note on Monday, February 26th. BMO Capital Markets decreased their price target on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. CIBC decreased their price target on TransAlta from C$18.50 to C$16.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada decreased their price target on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Finally, National Bankshares decreased their price target on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TransAlta has a consensus rating of “Buy” and an average price target of C$15.55.

TransAlta Price Performance

Shares of TA opened at C$9.06 on Thursday. The company has a market cap of C$2.79 billion, a P/E ratio of 3.89, a PEG ratio of -0.07 and a beta of 0.89. The stock has a fifty day moving average price of C$8.91 and a 200 day moving average price of C$10.02. The company has a debt-to-equity ratio of 253.18, a current ratio of 0.91 and a quick ratio of 0.62. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$13.97.

TransAlta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.24 annualized dividend and a yield of 2.65%. TransAlta’s dividend payout ratio is currently 10.30%.

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.