Q1 2024 Earnings Estimate for TransAlta Co. (TSE:TA) Issued By Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Research analysts at Atb Cap Markets lifted their Q1 2024 earnings per share estimates for TransAlta in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will earn $0.19 per share for the quarter, up from their prior forecast of $0.14. 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 $0.75 EPS.

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

Several other equities research analysts also recently weighed in on TA. TD Securities decreased their price objective on TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a report on Monday, February 26th. BMO Capital Markets decreased their price objective on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. National Bankshares decreased their price objective on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Royal Bank of Canada decreased their price objective on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Finally, CIBC decreased their price objective on TransAlta from C$18.50 to C$16.00 and set an “outperform” rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$15.55.

TransAlta Stock Performance

Shares of TA opened at C$9.06 on Thursday. The stock has a 50 day moving average price of C$8.91 and a 200 day moving average price of C$10.02. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 253.18. The company has a market capitalization of C$2.79 billion, a price-to-earnings ratio of 3.89, a price-to-earnings-growth ratio of -0.07 and a beta of 0.89. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$13.97.

TransAlta Dividend Announcement

The business 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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is presently 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.