Research Analysts Set Expectations for TransAlta Co.’s Q2 2024 Earnings (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Analysts at Atb Cap Markets decreased their Q2 2024 earnings estimates for shares of TransAlta in a research note issued on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.06. The consensus estimate for TransAlta’s current full-year earnings is $0.47 per share. Atb Cap Markets also issued estimates for TransAlta’s Q4 2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.63 EPS.

TransAlta (TSE:TA) (NYSE:TAC) last released its 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 company had revenue of C$624.00 million for the quarter.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lowered their price target on shares of TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. National Bankshares lowered their target price on 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. CIBC reduced their price target on TransAlta from C$18.50 to C$16.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Royal Bank of Canada lowered their price objective on 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. Finally, TD Securities dropped their price objective on shares of TransAlta from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. One research 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, the company currently has a consensus rating of “Buy” and a consensus price target of C$15.55.

TransAlta Stock Down 1.0 %

TransAlta stock opened at C$9.74 on Tuesday. The business’s 50-day simple moving average is C$8.90 and its two-hundred day simple moving average is C$9.92. The company has a debt-to-equity ratio of 253.18, a quick ratio of 0.62 and a current ratio of 0.91. The company 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. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$13.97.

TransAlta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.24 annualized dividend and a dividend yield of 2.46%. 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.