Q3 Earnings Estimate for TransAlta Issued By Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Equities researchers at Atb Cap Markets decreased their Q3 2024 earnings estimates for TransAlta in a research report issued to clients and investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects 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 issued its earnings results on Thursday, August 1st. The company reported C$0.18 EPS for the quarter, topping the consensus estimate of C$0.07 by C$0.11. TransAlta had a return on equity of 32.01% and a net margin of 19.50%. The company had revenue of C$582.00 million during the quarter.

A number of other research analysts have also issued reports on the company. BMO Capital Markets boosted their price objective on TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. CIBC reduced their price objective on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, National Bankshares raised their target price on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TransAlta currently has a consensus rating of “Buy” and an average price target of C$15.17.

TransAlta Trading Up 0.4 %

TransAlta stock opened at C$14.08 on Friday. The company has a market cap of C$4.20 billion, a P/E ratio of 7.41, a PEG ratio of -0.07 and a beta of 0.93. The firm’s 50-day moving average is C$12.98 and its 200-day moving average is C$10.84. TransAlta has a 1 year low of C$8.22 and a 1 year high of C$14.65. 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 at TransAlta

In related news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of TransAlta stock in a transaction on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the 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. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of C$10.99, for a total transaction of C$536,674.67. Insiders sold 120,217 shares of company stock valued at $1,397,220 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

TransAlta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, August 30th. TransAlta’s payout ratio is currently 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.