Atb Cap Markets Comments on TransAlta Co.’s Q2 2024 Earnings (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Equities researchers at Atb Cap Markets dropped their Q2 2024 earnings per share estimates for TransAlta in a research report issued to clients and investors on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.05 per share for the quarter, down from their prior estimate of $0.06. The consensus estimate for TransAlta’s current full-year earnings is $0.47 per share. Atb Cap Markets also issued estimates for TransAlta’s Q4 2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.63 EPS.

Several other equities analysts also recently issued reports on the stock. CIBC decreased their price objective on shares of TransAlta from C$18.50 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. National Bankshares decreased their target price 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. TD Securities lowered their price objective on TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a research report on Monday, February 26th. BMO Capital Markets reduced their price objective on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Finally, 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 research report on Monday, February 26th. One investment 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, TransAlta has an average rating of “Buy” and an average target price of C$15.55.

TransAlta Stock Up 1.9 %

TA opened at C$9.84 on Tuesday. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$13.97. The company has a debt-to-equity ratio of 253.18, a quick ratio of 0.62 and a current ratio of 0.91. The stock has a market capitalization of C$3.03 billion, a price-to-earnings ratio of 4.22, a PEG ratio of -0.07 and a beta of 0.89. The company has a fifty day moving average of C$8.90 and a two-hundred day moving average of 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 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%.

TransAlta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.44%. TransAlta’s payout ratio is 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.