Zacks: Brokerages Expect TransAlta Co. (NYSE:TAC) to Announce $0.12 Earnings Per Share


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Wall Street brokerages predict that TransAlta Co. (NYSE:TAC) (TSE:TA) will announce earnings per share of $0.12 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for TransAlta’s earnings. TransAlta reported earnings per share of $0.09 during the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The firm is scheduled to issue its next earnings report on Wednesday, March 3rd.

On average, analysts expect that TransAlta will report full year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.43) to ($0.18). For the next financial year, analysts forecast that the business will report earnings of $0.24 per share, with EPS estimates ranging from $0.15 to $0.33. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for TransAlta.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Wednesday, November 4th. The utilities provider reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.35). The company had revenue of $385.78 million for the quarter. TransAlta had a net margin of 4.74% and a negative return on equity of 0.58%.

TAC has been the topic of several research analyst reports. Zacks Investment Research downgraded TransAlta from a “hold” rating to a “sell” rating in a research report on Tuesday, December 29th. Credit Suisse Group boosted their price objective on TransAlta from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, December 24th. BidaskClub upgraded TransAlta from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 9th. CIBC raised TransAlta from a “neutral” rating to an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets lifted their target price on TransAlta from $8.00 to $10.00 and gave the stock a “market perform” rating in a report on Monday, December 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. TransAlta presently has an average rating of “Buy” and an average target price of $10.46.

Shares of TransAlta stock opened at $8.66 on Thursday. The stock’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $6.56. TransAlta has a 52 week low of $3.63 and a 52 week high of $8.85. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 29.69 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.85.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Monday, March 1st will be paid a dividend of $0.035 per share. This is a boost from TransAlta’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, February 26th. TransAlta’s payout ratio is presently -144.44%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can increased its stake in TransAlta by 19.4% during the third quarter. Great West Life Assurance Co. Can now owns 45,758 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 7,434 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of TransAlta by 557.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 160,499 shares of the utilities provider’s stock valued at $987,000 after buying an additional 136,093 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of TransAlta by 43.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 69,900 shares of the utilities provider’s stock valued at $412,000 after buying an additional 21,300 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of TransAlta by 1.5% during the third quarter. Toronto Dominion Bank now owns 3,832,557 shares of the utilities provider’s stock valued at $23,573,000 after buying an additional 56,753 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of TransAlta during the second quarter valued at approximately $86,000. 57.56% of the stock is currently owned by institutional investors.

About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, and Energy Marketing segments. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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