FY2024 EPS Estimates for TransAlta Decreased by Analyst

TransAlta Co. (TSE:TA - Free Report) NYSE: TAC - Equities research analysts at National Bank Financial lowered their FY2024 EPS estimates for shares of TransAlta in a report issued on Tuesday, November 5th. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $0.60 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.

A number of other analysts also recently issued reports on the stock. CIBC dropped their target price on shares of TransAlta from C$16.50 to C$15.50 and set an "outperform" rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price objective on shares of TransAlta from C$14.00 to C$16.00 in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Desjardins downgraded TransAlta from a "moderate buy" rating to a "hold" rating in a report on Tuesday. Finally, National Bankshares increased their price objective 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$16.17.

TransAlta Trading Down 1.8 %

TSE TA traded down C$0.27 during mid-day trading on Friday, reaching C$14.35. 1,297,857 shares of the stock were exchanged, compared to its average volume of 1,051,558. The stock has a market capitalization of C$4.28 billion, a PE ratio of 7.69, a PEG ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84. TransAlta has a 1-year low of C$8.22 and a 1-year high of C$15.37. The business's fifty day simple moving average is C$13.50 and its 200 day simple moving average is C$11.18.

Insider Activity

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total value of C$114,500.00. Insiders have sold 30,006 shares of company stock worth $392,973 in the last 90 days. Company insiders own 0.21% of the company's stock.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.67%. TransAlta's dividend payout ratio is 12.63%.

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.