TransAlta Co. (TSE:TA) Expected to Earn FY2024 Earnings of $1.16 Per Share

TransAlta Co. (TSE:TA) (NYSE:TAC) – Equities researchers at Atb Cap Markets upped their FY2024 earnings per share (EPS) estimates for shares of TransAlta in a report released on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will earn $1.16 per share for the year, up from their prior estimate of $1.10. The consensus estimate for TransAlta’s current full-year earnings is $0.84 per share.

Separately, CIBC decreased their target price on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$15.17.

TransAlta Trading Up 4.5 %

TSE TA opened at C$10.00 on Thursday. The company has a market cap of C$3.04 billion, a PE ratio of 5.13, a PEG ratio of -0.07 and a beta of 0.87. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 217.60. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$13.97. The stock has a 50 day moving average of C$9.72 and a 200-day moving average of C$9.46.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings results on Friday, May 3rd. The company reported C$0.72 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.54. The company had revenue of C$947.00 million during the quarter. TransAlta had a net margin of 19.39% and a return on equity of 33.61%.

Insiders Place Their Bets

In other TransAlta news, Senior Officer Blain Mitchell Van Melle sold 10,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$9.67, for a total transaction of C$96,700.00. Corporate insiders own 0.20% of the company’s stock.

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.