TransAlta Co. (TSE:TA) Forecasted to Earn Q3 2024 Earnings of $0.25 Per Share

TransAlta Co. (TSE:TA) (NYSE:TAC) – Equities research analysts at Atb Cap Markets lowered their Q3 2024 earnings estimates for shares of TransAlta in a report released on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.25 per share for the quarter, down from their prior estimate 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.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings data 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 business had revenue of C$624.00 million for the quarter.

TA has been the topic of several other reports. Royal Bank of Canada dropped their target price on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. BMO Capital Markets cut their price objective on shares of TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. TD Securities decreased their target price on shares of TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a report on Monday, February 26th. CIBC dropped their target price on shares of TransAlta from C$18.50 to C$16.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Finally, National Bankshares reduced their price target on shares of TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$15.55.

TransAlta Stock Performance

Shares of TA opened at C$10.04 on Wednesday. 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 stock has a market cap of C$3.09 billion, a P/E ratio of 4.31, a P/E/G ratio of -0.07 and a beta of 0.89. The business’s 50 day moving average price is C$8.92 and its 200-day moving average price is C$9.92.

TransAlta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s dividend payout ratio is currently 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.