Zacks: Brokerages Anticipate TransAlta Co. (NYSE:TAC) Will Announce Earnings of $0.18 Per Share

Brokerages predict that TransAlta Co. (NYSE:TAC – Get Rating) (TSE:TA) will post earnings of $0.18 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for TransAlta’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.20. TransAlta posted earnings of $0.07 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 157.1%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that TransAlta will report full-year earnings of $0.64 per share for the current year, with EPS estimates ranging from ($0.06) to $1.14. For the next fiscal year, analysts anticipate that the company will post earnings of $0.34 per share, with EPS estimates ranging from $0.06 to $0.72. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for TransAlta.

TransAlta (NYSE:TAC – Get Rating) (TSE:TA) last issued its earnings results on Friday, May 6th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.36. TransAlta had a negative net margin of 12.08% and a positive return on equity of 13.73%. The company had revenue of $580.27 million during the quarter, compared to analyst estimates of $536.65 million. During the same quarter last year, the business posted ($0.02) EPS.

TAC has been the subject of several analyst reports. StockNews.com raised shares of TransAlta from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 19th. Bank of America lowered TransAlta from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 22nd. National Bank Financial increased their target price on TransAlta from C$14.00 to C$15.00 in a research note on Monday, May 9th. Finally, Zacks Investment Research lowered TransAlta from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 25th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $16.00.

Shares of TAC stock traded up $0.05 on Tuesday, hitting $11.51. The company’s stock had a trading volume of 8,542 shares, compared to its average volume of 325,307. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.14 and a quick ratio of 1.07. TransAlta has a fifty-two week low of $9.44 and a fifty-two week high of $12.13. The firm’s fifty day moving average price is $10.93 and its 200-day moving average price is $10.60. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -10.86 and a beta of 1.08.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be given a $0.04 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from TransAlta’s previous quarterly dividend of $0.04. TransAlta’s dividend payout ratio (DPR) is currently -15.09%.

Hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. lifted its position in shares of TransAlta by 153.2% in the 1st quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 3,326 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of TransAlta during the 4th quarter worth approximately $66,000. Lazard Asset Management LLC lifted its position in shares of TransAlta by 157.6% during the 4th quarter. Lazard Asset Management LLC now owns 7,252 shares of the utilities provider’s stock worth $80,000 after buying an additional 4,437 shares during the period. Bank of Nova Scotia Trust Co. bought a new position in shares of TransAlta during the 1st quarter worth approximately $105,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of TransAlta by 1,722.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,658 shares of the utilities provider’s stock worth $107,000 after buying an additional 9,128 shares during the period. Institutional investors own 76.49% of the company’s stock.

About TransAlta (Get Rating)

TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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