Atb Cap Markets Comments on TransAlta Co.’s Q3 2024 Earnings (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Research analysts at Atb Cap Markets dropped their Q3 2024 earnings per share (EPS) estimates for TransAlta in a research report issued on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.25 per share for the quarter, down from their previous 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.

Other analysts have also issued research reports about the stock. Royal Bank of Canada dropped their price target on shares of TransAlta from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. BMO Capital Markets cut their target price on 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. CIBC reduced their price objective 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. TD Securities dropped their price objective 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. Finally, National Bankshares reduced their price objective on shares of TransAlta from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$15.55.

TransAlta Trading Down 1.0 %

TSE TA opened at C$9.74 on Wednesday. The stock has a market cap of C$3.00 billion, a PE ratio of 4.18, a PEG ratio of -0.07 and a beta of 0.89. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 253.18. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$13.97. The company’s 50-day moving average price is C$8.90 and its 200-day moving average price is C$9.92.

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

TransAlta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s payout ratio is 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.