Q3 Earnings Forecast for TransAlta Issued By Atb Cap Markets

TransAlta Co. (NYSE:TAC) (TSE:TA) – Investment analysts at Atb Cap Markets reduced their Q3 2024 earnings per share (EPS) estimates for shares of TransAlta in a report released on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will earn $0.12 per share for the quarter, down from their previous forecast of $0.21. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.76 EPS.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. The business had revenue of $425.37 million during the quarter. During the same quarter last year, the company earned $0.17 EPS.

Separately, StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th.

TransAlta Stock Up 0.1 %

Shares of TransAlta stock opened at $10.16 on Friday. The company has a market cap of $3.03 billion, a P/E ratio of 6.73 and a beta of 0.92. The firm has a fifty day moving average of $9.65 and a two-hundred day moving average of $8.00. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.75 and a current ratio of 0.84. TransAlta has a one year low of $5.94 and a one year high of $10.73.

TransAlta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be issued a dividend of $0.044 per share. This represents a $0.18 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio is presently 11.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after buying an additional 3,951 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in TransAlta in the 4th quarter valued at approximately $33,000. Financial Management Professionals Inc. acquired a new position in TransAlta during the third quarter worth $42,000. Mather Group LLC. purchased a new stake in TransAlta during the second quarter worth $64,000. Finally, Janney Montgomery Scott LLC acquired a new stake in TransAlta in the first quarter valued at $66,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

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.