TransAlta (TAC) Ascends While Market Falls: Some Facts to Note
The latest trading session saw TransAlta (TAC) ending at $7.03, denoting a +0.29% adjustment from its last day's close. This change outpaced the S&P 500's 0.1% loss on the day. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.3%.
Shares of the power generation and marketing company witnessed a loss of 9.66% over the previous month, trailing the performance of the Utilities sector with its loss of 5.77% and the S&P 500's gain of 5.78%.
The upcoming earnings release of TransAlta will be of great interest to investors. The company's earnings report is expected on February 23, 2024. The company is predicted to post an EPS of $0.13, indicating a 128.89% growth compared to the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for TransAlta. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 7.19% lower. TransAlta currently has a Zacks Rank of #3 (Hold).
Investors should also note TransAlta's current valuation metrics, including its Forward P/E ratio of 16.3. This valuation marks a premium compared to its industry's average Forward P/E of 14.08.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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TransAlta Corporation (TAC) : Free Stock Analysis Report
