TransAlta FY2024 EPS Estimate Reduced by Atb Cap Markets

TransAlta Co. (TSE:TA - Free Report) NYSE: TAC - Stock analysts at Atb Cap Markets dropped their FY2024 earnings per share (EPS) estimates for TransAlta in a research note issued on Tuesday, November 5th. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $0.91 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.

Other analysts also recently issued research reports about the stock. CIBC decreased their price objective on shares of TransAlta from C$16.50 to C$15.50 and set an "outperform" rating on the stock in a report on Monday, July 22nd. TD Securities upped their price target on TransAlta from C$16.00 to C$18.00 and gave the stock a "buy" rating in a report on Wednesday. National Bankshares raised their price objective on TransAlta from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research note on Friday, August 23rd. 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. Finally, Royal Bank of Canada raised their price target on TransAlta from C$14.00 to C$16.00 in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$16.17.

TransAlta Stock Performance

TA traded up C$0.09 during trading on Thursday, reaching C$14.62. The company's stock had a trading volume of 1,486,535 shares, compared to its average volume of 1,050,417. The company has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company's fifty day moving average price is C$13.45 and its 200-day moving average price is C$11.14. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$15.37. 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 Announces Dividend

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

Insiders Place Their Bets

In related news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of TransAlta stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of C$13.92, for a total value of C$278,400.00. In related news, Senior Officer Kerry Lynn O'reilly sold 48,833 shares of the stock in a transaction 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. Also, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the company's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of C$13.92, for a total value of C$278,400.00. Insiders have sold a total of 78,839 shares of company stock valued at $929,648 over the last quarter. Company 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.