FY2023 EPS Estimates for TransAlta Co. (TSE:TA) Cut by National Bank Financial

TransAlta Co. (TSE:TAFree Report) (NYSE:TAC) – Research analysts at National Bank Financial cut their FY2023 earnings per share (EPS) estimates for TransAlta in a report released on Monday, January 29th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.57 per share for the year, down from their prior estimate of $2.83. The consensus estimate for TransAlta’s current full-year earnings is $0.56 per share. National Bank Financial also issued estimates for TransAlta’s FY2024 earnings at $0.40 EPS and FY2025 earnings at $0.65 EPS.

A number of other research firms have also issued reports on TA. CIBC lowered their target price on TransAlta from C$18.50 to C$18.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. National Bankshares cut their price target on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Tuesday. TD Securities lowered their target price on TransAlta from C$16.00 to C$15.50 and set a “buy” rating on the stock in a research report on Wednesday, November 22nd. ATB Capital lowered their target price on TransAlta from C$19.00 to C$17.00 in a research report on Thursday, October 19th. Finally, Scotiabank lowered their price target on TransAlta from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$16.10.

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TransAlta Stock Performance

Shares of TSE:TA opened at C$9.76 on Thursday. The firm has a market capitalization of C$3.02 billion, a PE ratio of 4.56, a P/E/G ratio of -0.07 and a beta of 1.04. The company has a debt-to-equity ratio of 161.55, a current ratio of 1.54 and a quick ratio of 0.62. The business has a 50-day moving average of C$10.64 and a two-hundred day moving average of C$11.69. TransAlta has a 12 month low of C$9.72 and a 12 month high of C$13.97.

TransAlta (TSE:TAGet Free Report) (NYSE:TAC) last released its earnings results on Tuesday, November 7th. The company reported C$1.19 earnings per share for the quarter, topping the consensus estimate of C$0.43 by C$0.76. TransAlta had a return on equity of 30.24% and a net margin of 17.18%. The firm had revenue of C$1.02 billion for the quarter.

Insider Buying and Selling at TransAlta

In other TransAlta news, Director John Harry Kousinioris sold 76,941 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of C$10.84, for a total value of C$834,348.20. In other news, Director John Harry Kousinioris sold 76,941 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of C$10.84, for a total transaction of C$834,348.20. Also, Senior Officer Aron John Willis sold 35,454 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$11.08, for a total value of C$392,830.32. Insiders have sold 156,463 shares of company stock worth $1,712,367 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

TransAlta Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.24 dividend on an annualized basis and a yield of 2.46%. This is an increase from TransAlta’s previous quarterly dividend of $0.06. TransAlta’s payout ratio is 11.21%.

About TransAlta

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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 has a net ownership interest of approximately 922 megawatts (MW) of owned hydro electrical-generating capacity located in Alberta, British Columbia, and Ontario.

Further Reading

Earnings History and Estimates for TransAlta (TSE:TA)

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