Atb Cap Markets Analysts Lift Earnings Estimates for TransAlta Co. (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Stock analysts at Atb Cap Markets boosted their Q1 2024 earnings per share estimates for shares of TransAlta in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.19 for the quarter, up from their prior forecast of $0.14. The consensus estimate for TransAlta’s current full-year earnings is $0.47 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.75 EPS.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.45). The firm had revenue of C$624.00 million during the quarter. TransAlta had a return on equity of 43.58% and a net margin of 20.71%.

A number of other brokerages have also weighed in on TA. TD Securities lowered their price objective on TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a research note on Monday, February 26th. National Bankshares dropped their price objective on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Royal Bank of Canada dropped their price objective on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. BMO Capital Markets decreased their target price on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, CIBC lowered their price target on TransAlta from C$18.50 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$15.55.

TransAlta Stock Performance

Shares of TSE:TA opened at C$9.32 on Thursday. The company has a market cap of C$2.87 billion, a P/E ratio of 4.00, a PEG ratio of -0.07 and a beta of 0.89. The company has a debt-to-equity ratio of 253.18, a quick ratio of 0.62 and a current ratio of 0.91. TransAlta has a one year low of C$8.22 and a one year high of C$13.97. The business’s 50-day simple moving average is C$8.92 and its 200 day simple moving average is C$10.04.

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.