Q3 Earnings Forecast for TransAlta Issued By Atb Cap Markets

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

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

Several other brokerages have also issued reports on TA. National Bankshares upped their price target on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note 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 on the stock in a research note on Monday, July 22nd. Finally, BMO Capital Markets boosted their price target on shares of TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, TransAlta has an average rating of “Buy” and a consensus target price of C$15.10.

TransAlta Stock Performance

The company has a 50 day moving average price of C$12.98 and a two-hundred day moving average price of C$10.84. The company has a market cap of C$4.21 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$14.65. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62.

Insider Activity at TransAlta

In related news, 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 other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of TransAlta stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total transaction of C$536,674.67. Over the last 90 days, insiders sold 120,217 shares of company stock worth $1,397,220. 0.21% of the stock is currently owned by company insiders.

TransAlta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a 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.