National Bank Financial Forecasts TransAlta FY2024 Earnings

TransAlta Co. (TSE:TA) (NYSE:TAC) – Equities researchers at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for TransAlta in a note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the company will earn $0.61 per share for the year, up from their previous estimate of $0.60. National Bank Financial also issued estimates for TransAlta’s FY2026 earnings at $0.68 EPS and FY2027 earnings at $1.12 EPS.

TA has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. BMO Capital Markets lifted their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Desjardins increased their price objective on TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Scotiabank raised TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, TD Securities increased their price target on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TransAlta presently has a consensus rating of “Moderate Buy” and an average target price of C$18.33.

TransAlta Stock Performance

TSE TA opened at C$19.05 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The company has a fifty day simple moving average of C$17.36 and a 200 day simple moving average of C$13.67. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$20.98. The company has a market cap of C$5.68 billion, a P/E ratio of 10.03, a PEG ratio of -0.07 and a beta of 0.93.

Insider Activity at TransAlta

In related news, Director John Harry Kousinioris sold 35,179 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total transaction of C$729,260.67. Also, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$19.41, for a total transaction of C$194,100.00. Insiders have sold a total of 204,763 shares of company stock valued at $3,478,670 over the last 90 days. 0.21% of the stock is owned by insiders.

TransAlta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Sunday, December 1st were given a $0.06 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.24 annualized dividend and a yield of 1.26%. TransAlta’s dividend payout ratio (DPR) is presently 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.