National Bank Financial Comments on TransAlta Co.’s Q1 2024 Earnings (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Investment analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for TransAlta in a research note issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the company will earn $0.16 per share for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.47 per share.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings results 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). TransAlta had a net margin of 20.71% and a return on equity of 43.58%. The firm had revenue of C$624.00 million for the quarter.

TA has been the subject of a number of other research reports. TD Securities lowered their target price 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. Royal Bank of Canada lowered their target price 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. BMO Capital Markets lowered their target price 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 lowered their target price 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. Finally, National Bankshares lowered their target price 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 analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$15.55.

TransAlta Price Performance

TA stock opened at C$9.06 on Thursday. The stock has a 50-day moving average price of C$8.91 and a two-hundred day moving average price of C$10.02. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$13.97. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 253.18. The company has a market cap of C$2.79 billion, a PE ratio of 3.89, a price-to-earnings-growth ratio of -0.07 and a beta of 0.89.

TransAlta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 2.65%. The ex-dividend date is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is 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.