Wall Street brokerages expect TransAlta Corporation (NYSE:TAC) (TSE:TA) to post earnings of $0.02 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for TransAlta Corporation’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.01. TransAlta Corporation reported earnings per share of ($0.03) in the same quarter last year, which indicates a positive year over year growth rate of 166.7%. The business is scheduled to announce its next earnings results on Friday, November 3rd.

On average, analysts expect that TransAlta Corporation will report full-year earnings of ($0.07) per share for the current fiscal year, with EPS estimates ranging from ($0.09) to ($0.04). For the next financial year, analysts forecast that the company will post earnings of $0.03 per share, with EPS estimates ranging from ($0.11) to $0.16. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for TransAlta Corporation.

A number of equities research analysts have recently commented on TAC shares. Zacks Investment Research upgraded shares of TransAlta Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Tuesday, August 15th. BidaskClub cut shares of TransAlta Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Six investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $7.00.

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in TransAlta Corporation in the first quarter worth approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TransAlta Corporation by 21.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,818 shares of the utilities provider’s stock worth $146,000 after acquiring an additional 4,088 shares during the period. Bank of Nova Scotia Trust Co. raised its position in TransAlta Corporation by 6.0% in the second quarter. Bank of Nova Scotia Trust Co. now owns 26,375 shares of the utilities provider’s stock worth $169,000 after acquiring an additional 1,502 shares during the period. Parametric Portfolio Associates LLC raised its position in TransAlta Corporation by 9.9% in the first quarter. Parametric Portfolio Associates LLC now owns 30,854 shares of the utilities provider’s stock worth $180,000 after acquiring an additional 2,787 shares during the period. Finally, Sprott Inc. bought a new position in TransAlta Corporation in the second quarter worth approximately $384,000. Institutional investors own 51.10% of the company’s stock.

TransAlta Corporation (NYSE TAC) opened at 6.00 on Monday. The company has a market cap of $1.73 billion, a PE ratio of 67.42 and a beta of 0.71. TransAlta Corporation has a 52-week low of $3.75 and a 52-week high of $6.60. The firm’s 50 day moving average is $6.03 and its 200 day moving average is $5.93.

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TransAlta Corporation Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

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