TransAlta FY2024 EPS Estimate Lowered by Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Stock analysts at Atb Cap Markets decreased their FY2024 earnings per share (EPS) estimates for shares of TransAlta in a note issued to investors on Tuesday, November 5th. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings of $0.91 per share for the year, down from their prior forecast of $1.06. Atb Cap Markets also issued estimates for TransAlta’s Q1 2025 earnings at $0.29 EPS and FY2026 earnings at $0.58 EPS.

Several other analysts also recently issued reports on TA. Royal Bank of Canada lifted their target price on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday. National Bankshares raised their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. TD Securities increased their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday. Desjardins downgraded TransAlta from a “moderate buy” rating to a “hold” rating in a research report on Tuesday. Finally, CIBC cut their price target on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TransAlta currently has an average rating of “Moderate Buy” and an average target price of C$16.17.

TransAlta Price Performance

TSE:TA opened at C$14.53 on Thursday. The business’s 50-day simple moving average is C$13.45 and its two-hundred day simple moving average is C$11.14. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$15.37. The stock has a market cap of C$4.33 billion, a PE ratio of 7.65, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87.

TransAlta Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, November 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.65%. TransAlta’s dividend payout ratio is presently 12.63%.

Insider Activity at TransAlta

In other news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the stock in a transaction that occurred 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 firm’s 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 transaction of C$114,500.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the stock in a transaction that occurred 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 the last ninety days, insiders have sold 78,839 shares of company stock worth $929,648. Insiders own 0.21% of the company’s stock.

TransAlta Company Profile

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.