TransAlta (TAC) Flat As Market Gains: What You Should Know
TransAlta (TAC) ended the recent trading session at $8.25, demonstrating no swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.06%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 1.2%.
The the stock of power generation and marketing company has fallen by 11.58% in the past month, lagging the Utilities sector's loss of 10.51% and the S&P 500's loss of 3%.
Investors will be eagerly watching for the performance of TransAlta in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2023. The company is expected to report EPS of $0.27, up 58.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.45 per share and revenue of $2.55 billion, which would represent changes of +1912.5% and +11.92%, respectively, from the prior year.
Any recent changes to analyst estimates for TransAlta should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, TransAlta possesses a Zacks Rank of #2 (Buy).
Investors should also note TransAlta's current valuation metrics, including its Forward P/E ratio of 5.68. This signifies a discount in comparison to the average Forward P/E of 14.71 for its industry.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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TransAlta Corporation (TAC) : Free Stock Analysis Report
