TransAlta (TAC) to Release Quarterly Earnings on Friday

TransAlta (NYSE:TAC) (TSE:TA) is scheduled to be releasing its earnings data before the market opens on Friday, May 3rd. Analysts expect TransAlta to post earnings of $0.10 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings results on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $305.79 million. TransAlta had a return on equity of 48.42% and a net margin of 20.05%. TransAlta’s revenue for the quarter was down 26.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) earnings per share. On average, analysts expect TransAlta to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

TransAlta Price Performance

Shares of TAC stock opened at $6.64 on Wednesday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 3.63 and a beta of 0.83. The business’s fifty day moving average is $6.55 and its 200 day moving average is $7.35. TransAlta has a twelve month low of $5.94 and a twelve month high of $10.40. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 4.06.

TransAlta Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be paid a $0.0438 dividend. This represents a $0.18 annualized dividend and a yield of 2.64%. This is a boost from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date is Friday, May 31st. TransAlta’s dividend payout ratio is presently 8.74%.

Analyst Ratings Changes

Separately, StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th.

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.