FY2024 EPS Estimates for TransAlta Reduced by Analyst

TransAlta Co. (TSE:TA) (NYSE:TAC) – Analysts at National Bank Financial lowered their FY2024 earnings per share estimates for shares of TransAlta in a note issued to investors on Tuesday, November 5th. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings of $0.60 per share for the year, down from their prior forecast of $0.88. National Bank Financial also issued estimates for TransAlta’s FY2025 earnings at $0.58 EPS.

Several other brokerages have also commented on TA. TD Securities boosted their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday. Desjardins lowered TransAlta from a “moderate buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on TransAlta from C$14.00 to C$16.00 in a report on Wednesday. National Bankshares boosted their target price on TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets boosted their target price on TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TransAlta presently has a consensus rating of “Moderate Buy” and an average price target of C$16.17.

TransAlta Stock Up 0.6 %

Shares of TSE TA opened at C$14.62 on Friday. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$15.37. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The firm has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 7.69, a PEG ratio of -0.07 and a beta of 0.93. The business has a 50-day moving average of C$13.50 and a 200-day moving average of C$11.18.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total transaction of C$114,500.00. Over the last 90 days, insiders sold 30,006 shares of company stock worth $392,973. 0.21% of the stock is currently owned by insiders.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a $0.06 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.24 annualized dividend and a yield of 1.64%. TransAlta’s payout ratio is currently 12.63%.

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.