National Bank Financial Comments on TransAlta Renewables Inc.’s FY2022 Earnings (TSE:RNW)

TransAlta Renewables Inc. (TSE:RNW) – Equities research analysts at National Bank Financial cut their FY2022 earnings per share estimates for TransAlta Renewables in a research note issued on Tuesday, January 11th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings per share of $0.69 for the year, down from their previous forecast of $0.72. National Bank Financial also issued estimates for TransAlta Renewables’ FY2023 earnings at $0.73 EPS.

TransAlta Renewables (TSE:RNW) last issued its earnings results on Tuesday, November 9th. The company reported C$0.07 EPS for the quarter, missing the consensus estimate of C$0.11 by C($0.04). The business had revenue of C$114.00 million for the quarter, compared to the consensus estimate of C$97.10 million.

Several other analysts have also recently commented on the stock. Royal Bank of Canada upgraded shares of TransAlta Renewables from a “sector perform” rating to a “buy” rating and set a C$22.00 target price for the company in a research report on Wednesday. Scotiabank dropped their target price on shares of TransAlta Renewables from C$20.00 to C$19.00 in a research report on Wednesday. ATB Capital decreased their price target on shares of TransAlta Renewables from C$21.00 to C$19.00 in a report on Wednesday. CIBC decreased their price target on shares of TransAlta Renewables from C$20.50 to C$20.00 in a report on Tuesday. Finally, TD Securities decreased their price target on shares of TransAlta Renewables from C$19.50 to C$18.00 and set a “hold” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, TransAlta Renewables currently has a consensus rating of “Hold” and an average target price of C$19.55.

Shares of TransAlta Renewables stock opened at C$16.54 on Friday. The firm has a fifty day moving average of C$18.52 and a two-hundred day moving average of C$19.68. The stock has a market capitalization of C$4.41 billion and a price-to-earnings ratio of 29.43. TransAlta Renewables has a 52 week low of C$16.01 and a 52 week high of C$22.84. The company has a debt-to-equity ratio of 39.72, a quick ratio of 0.81 and a current ratio of 0.90.

The business also recently announced a monthly dividend, which will be paid on Monday, January 31st. Investors of record on Monday, January 31st will be paid a $0.0783 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date is Thursday, January 13th. TransAlta Renewables’s payout ratio is presently 167.25%.

TransAlta Renewables Company Profile

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 3, 2021, it owned and operated 23 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, 1 natural gas pipeline, and 1 battery storage comprising an ownership interest of 2,537 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.

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