Q3 Earnings Forecast for TransAlta Issued By Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Stock analysts at Atb Cap Markets dropped their Q3 2024 earnings per share estimates for TransAlta in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $0.16 for the quarter, down from their previous estimate of $0.29. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $1.06 EPS.

TransAlta (TSE:TA) (NYSE:TAC) last announced its earnings results on Thursday, August 1st. The company reported C$0.18 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.11. The firm had revenue of C$582.00 million during the quarter. TransAlta had a return on equity of 32.01% and a net margin of 19.50%.

A number of other analysts also recently weighed in on the stock. National Bankshares increased their price target on shares of TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. CIBC reduced their target price on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, BMO Capital Markets boosted their price target on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$15.10.

TransAlta Stock Performance

TransAlta has a 52 week low of C$8.22 and a 52 week high of C$14.65. The business has a 50-day moving average of C$12.98 and a two-hundred day moving average of C$10.84. The firm has a market capitalization of C$4.21 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84.

Insider Activity

In related news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$11.30, for a total value of C$467,571.40. In related news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of C$11.30, for a total value of C$467,571.40. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of C$10.99, for a total value of C$536,674.67. In the last three months, insiders have sold 120,217 shares of company stock worth $1,397,220. Corporate insiders own 0.21% of the company’s stock.

TransAlta Dividend Announcement

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

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.