TransAlta Co. Forecasted to Post Q1 2024 Earnings of $0.16 Per Share (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) – Research analysts at National Bank Financial issued their Q1 2024 earnings estimates for TransAlta in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.16 for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.47 per share.

TA has been the topic of several other reports. BMO Capital Markets reduced 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. CIBC cut their price target on shares of TransAlta from C$18.50 to C$16.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. TD Securities lowered their target price on shares of TransAlta from C$15.00 to C$14.00 and set a “buy” rating on the stock in a report on Monday, February 26th. National Bankshares reduced their target price on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reduced their target price on shares of TransAlta from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$15.55.

TransAlta Stock Performance

Shares of TransAlta stock opened at C$9.32 on Thursday. The company has a debt-to-equity ratio of 253.18, a quick ratio of 0.62 and a current ratio of 0.91. The stock has a market capitalization of C$2.87 billion, a price-to-earnings ratio of 4.00, a PEG ratio of -0.07 and a beta of 0.89. The firm has a fifty day moving average of C$8.92 and a two-hundred day moving average of C$10.04. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$13.97.

TransAlta (TSE:TA) (NYSE:TAC) last posted 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). TransAlta had a return on equity of 43.58% and a net margin of 20.71%. The business had revenue of C$624.00 million during the quarter.

About TransAlta

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.