National Bank Financial Forecasts TransAlta FY2024 Earnings

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

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

TransAlta Stock Down 1.8 %

Shares of TSE TA opened at C$14.35 on Friday. 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 stock’s 50-day simple moving average is C$13.55 and its 200-day simple moving average is C$11.23. The firm has a market cap of C$4.28 billion, a price-to-earnings ratio of 7.55, a PEG ratio of -0.07 and a beta of 0.93.

Insiders Place Their Bets

In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the 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. Insiders have sold 30,006 shares of company stock valued at $392,973 over the last quarter. Insiders own 0.21% of the company’s stock.

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 paid a dividend of $0.06 per share. The ex-dividend date is Friday, November 29th. This represents a $0.24 annualized dividend and a yield of 1.67%. TransAlta’s dividend payout ratio (DPR) 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.