Atb Cap Markets Comments on TransAlta's Q3 Earnings (TSE:TA)

TransAlta Co. (TSE:TA - Free Report) NYSE: TAC - Atb Cap Markets cut their Q3 2024 earnings per share estimates for TransAlta in a report issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.16 per share for the quarter, down from their prior forecast of $0.29. Atb Cap Markets also issued estimates for TransAlta's FY2024 earnings at $1.06 EPS.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. National Bankshares boosted 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 report on Friday, August 23rd. Finally, CIBC decreased their target price on shares of TransAlta from C$16.50 to C$15.50 and set an "outperform" rating on the stock in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$15.17.

TransAlta Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The firm has a 50 day simple moving average of C$12.98 and a 200 day simple moving average of C$10.84. TransAlta has a 1 year low of C$8.22 and a 1 year high of C$14.65. The firm has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 7.41, a PEG ratio of -0.07 and a beta of 0.93.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC last posted its earnings results on Thursday, August 1st. The company reported C$0.18 EPS for the quarter, topping analysts' consensus estimates of C$0.07 by C$0.11. TransAlta had a return on equity of 32.01% and a net margin of 19.50%. The company had revenue of C$582.00 million for the quarter.

Insider Activity

In other news, Senior Officer Kerry Lynn O'reilly sold 48,833 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of C$10.99, for a total transaction of C$536,674.67. In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$11.45, for a total value of C$114,500.00. Also, Senior Officer Kerry Lynn O'reilly sold 48,833 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total transaction of C$536,674.67. Insiders have sold 120,217 shares of company stock worth $1,397,220 over the last 90 days. Company insiders own 0.21% of the company's stock.

TransAlta Announces Dividend

The company 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. This represents a $0.24 annualized dividend and a yield of ∞. The ex-dividend date is Friday, November 29th. TransAlta's dividend payout ratio (DPR) is 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.