TransAlta (TAC) Ascends While Market Falls: Some Facts to Note
The latest trading session saw TransAlta (TAC) ending at $8.31, denoting a +0.24% adjustment from its last day's close. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Shares of the power generation and marketing company witnessed a gain of 1.72% over the previous month, trailing the performance of the Utilities sector with its gain of 2.64% and the S&P 500's gain of 5.24%.
Analysts and investors alike will be keeping a close eye on the performance of TransAlta in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.28, indicating a 162.22% growth compared to the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.82 per share and a revenue of $2.56 billion, signifying shifts of +2375% and +12.21%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for TransAlta. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, TransAlta possesses a Zacks Rank of #3 (Hold).
Looking at valuation, TransAlta is presently trading at a Forward P/E ratio of 4.56. This represents a discount compared to its industry's average Forward P/E of 16.01.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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TransAlta Corporation (TAC) : Free Stock Analysis Report
