Zacks: Brokerages Anticipate TransAlta Co. (NYSE:TAC) Will Post Earnings of $0.16 Per Share

Wall Street analysts predict that TransAlta Co. (NYSE:TACGet Rating) (TSE:TA) will post earnings per share of $0.16 for the current quarter, Zacks reports. Zero analysts have made estimates for TransAlta’s earnings. TransAlta reported earnings per share of $0.07 in the same quarter last year, which indicates a positive year-over-year growth rate of 128.6%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that TransAlta will report full year earnings of $0.64 per share for the current financial year, with EPS estimates ranging from ($0.06) to $1.14. For the next financial year, analysts forecast that the firm will post earnings of $0.34 per share, with EPS estimates ranging from $0.06 to $0.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for TransAlta.

TransAlta (NYSE:TACGet Rating) (TSE:TA) last announced its quarterly earnings data on Friday, May 6th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.36. TransAlta had a positive return on equity of 14.13% and a negative net margin of 12.08%. The firm had revenue of $580.27 million during the quarter, compared to analysts’ expectations of $536.65 million. During the same period last year, the business posted ($0.02) earnings per share.

Several brokerages recently weighed in on TAC. Bank of America cut TransAlta from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 22nd. StockNews.com upgraded TransAlta from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research upgraded TransAlta from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday, May 12th. Finally, National Bank Financial lifted their price target on TransAlta from C$14.00 to C$15.00 in a research report on Monday, May 9th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TransAlta presently has an average rating of “Buy” and a consensus price target of $16.00.

Shares of NYSE:TAC opened at $11.33 on Tuesday. The business has a 50-day moving average price of $10.55 and a 200-day moving average price of $10.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -10.69 and a beta of 1.09. TransAlta has a 52-week low of $8.98 and a 52-week high of $12.13.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 1st will be paid a $0.04 dividend. The ex-dividend date is Tuesday, May 31st. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.41%. TransAlta’s payout ratio is currently -15.09%.

Several large investors have recently modified their holdings of TAC. Yaupon Capital Management LP acquired a new position in TransAlta during the fourth quarter worth $4,301,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in TransAlta by 45.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,841,058 shares of the utilities provider’s stock worth $98,274,000 after buying an additional 2,758,100 shares during the last quarter. Versor Investments LP boosted its stake in TransAlta by 11.2% during the fourth quarter. Versor Investments LP now owns 63,408 shares of the utilities provider’s stock worth $705,000 after buying an additional 6,408 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in TransAlta by 3.1% during the third quarter. Public Sector Pension Investment Board now owns 637,478 shares of the utilities provider’s stock worth $6,733,000 after buying an additional 18,968 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in TransAlta during the third quarter worth $356,000. 76.49% of the stock is currently owned by hedge funds and other institutional investors.

About TransAlta (Get Rating)

TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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