TransAlta Co. (NYSE:TAC) Expected to Post Q1 2024 Earnings of $0.14 Per Share

TransAlta Co. (NYSE:TAC) (TSE:TA) – Research analysts at Atb Cap Markets boosted their Q1 2024 earnings per share estimates for shares of TransAlta in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will post earnings per share of $0.14 for the quarter, up from their previous forecast of $0.10. The consensus estimate for TransAlta’s current full-year earnings is $0.51 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.55 EPS.

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th.

TransAlta Trading Down 2.9 %

Shares of TAC opened at $6.63 on Thursday. The business has a 50-day moving average of $6.56 and a 200 day moving average of $7.39. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $10.40. The firm has a market cap of $2.03 billion, a P/E ratio of 3.62 and a beta of 0.83. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.82 and a current ratio of 0.91.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). TransAlta had a return on equity of 48.42% and a net margin of 20.05%. The firm had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $305.79 million. During the same period last year, the business posted ($0.45) EPS. The company’s revenue was down 26.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. boosted its stake in TransAlta by 156.3% in the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 2,500 shares during the period. PNC Financial Services Group Inc. bought a new position in TransAlta in the 4th quarter worth about $33,000. Vanguard Group Inc. boosted its stake in TransAlta by 25.3% in the 4th quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock worth $87,242,000 after purchasing an additional 2,116,907 shares during the period. Goldman Sachs Group Inc. boosted its stake in TransAlta by 76.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,387,290 shares of the utilities provider’s stock worth $36,458,000 after purchasing an additional 1,899,671 shares during the period. Finally, Clayton Partners LLC boosted its stake in TransAlta by 15.7% in the 4th quarter. Clayton Partners LLC now owns 18,546 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 2,517 shares during the period. Institutional investors own 59.00% of the company’s stock.

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.