Brokers Offer Predictions for TransAlta FY2024 Earnings

TransAlta Co. (TSE:TA) (NYSE:TAC) – Research analysts at National Bank Financial lowered their FY2024 EPS estimates for TransAlta in a report released on Tuesday, November 5th. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $0.60 for the year, down from their previous forecast of $0.88. National Bank Financial also issued estimates for TransAlta’s FY2025 earnings at $0.58 EPS.

Several other analysts also recently commented on the stock. TD Securities upped their price target on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday. National Bankshares raised their price target on TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Desjardins downgraded TransAlta from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets lifted their target price on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TransAlta has a consensus rating of “Moderate Buy” and an average price target of C$16.17.

TransAlta Trading Down 1.8 %

Shares of TransAlta stock opened at C$14.35 on Friday. The company has a fifty day simple moving average of C$13.55 and a 200-day simple moving average of C$11.23. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$15.37. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The stock has a market cap of C$4.28 billion, a price-to-earnings ratio of 7.55, a PEG ratio of -0.07 and a beta of 0.93.

Insider Activity at TransAlta

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$11.45, for a total value of C$114,500.00. In the last quarter, insiders sold 30,006 shares of company stock valued at $392,973. 0.21% of the stock is owned by insiders.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s dividend payout ratio is presently 12.63%.

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.