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

TransAlta Co. (TSE:TA) (NYSE:TAC) – Research analysts at Atb Cap Markets cut their Q2 2024 earnings per share (EPS) estimates for shares of TransAlta in a research report issued on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.05 per share for the quarter, down from their previous forecast 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 commented on TA. 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. Royal Bank of Canada cut their price objective on shares of 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. TD Securities decreased their target price on TransAlta from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. National Bankshares dropped their price target 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. Finally, BMO Capital Markets decreased their price objective on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$15.55.

TransAlta Stock Performance

TA opened at C$10.04 on Tuesday. The business’s 50-day simple moving average is C$8.92 and its 200 day simple moving average is C$9.92. TransAlta has a 52-week low of C$8.22 and a 52-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 firm has a market capitalization of C$3.09 billion, a PE ratio of 4.31, a PEG ratio of -0.07 and a beta of 0.89.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings data 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). 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 during the quarter.

TransAlta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be given a $0.06 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.39%. TransAlta’s dividend payout ratio (DPR) is presently 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.