Q3 2024 EPS Estimates for TransAlta Co. (TSE:TA) Reduced by Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Analysts at Atb Cap Markets cut their Q3 2024 earnings per share (EPS) estimates for TransAlta in a note issued to investors on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.35. 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 $1.10 EPS and FY2026 earnings at $0.80 EPS.

Other equities research analysts have also recently issued research reports about the stock. CIBC decreased their target price on shares of 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 dropped their target price on shares of 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. TD Securities dropped their price objective on shares of TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a research note on Monday, February 26th. BMO Capital Markets cut their price target on shares of TransAlta from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Finally, National Bankshares dropped their target price on shares of TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$15.55.

TransAlta Stock Performance

Shares of TA stock opened at C$9.87 on Wednesday. The firm has a market cap of C$3.04 billion, a price-to-earnings ratio of 4.24, a PEG 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. 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’s 50 day moving average is C$8.93 and its 200 day moving average is C$9.92.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Friday, February 23rd. The company reported C($0.27) EPS 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 during the quarter.

TransAlta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be given a $0.06 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.24 annualized dividend and a dividend yield of 2.43%. TransAlta’s dividend payout ratio 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.