TransAlta Renewables Inc (TSE:RNW) Forecasted to Post FY2019 Earnings of $0.86 Per Share

TransAlta Renewables Inc (TSE:RNW) – Stock analysts at National Bank Financial cut their FY2019 earnings estimates for TransAlta Renewables in a research note issued to investors on Sunday, August 11th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of $0.86 per share for the year, down from their prior estimate of $0.87. National Bank Financial has a “Sector Perform” rating and a $13.25 price target on the stock. National Bank Financial also issued estimates for TransAlta Renewables’ Q4 2019 earnings at $0.25 EPS and FY2020 earnings at $0.77 EPS.

A number of other equities research analysts also recently commented on RNW. Canaccord Genuity boosted their target price on TransAlta Renewables from C$13.00 to C$13.50 in a research report on Tuesday, May 14th. Desjardins reiterated an “average” rating and issued a C$13.00 target price on shares of TransAlta Renewables in a research report on Wednesday, April 24th. Finally, Raymond James reiterated a “market perform” rating and issued a C$14.50 target price on shares of TransAlta Renewables in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$13.41.

Shares of TransAlta Renewables stock opened at C$12.77 on Wednesday. The stock’s 50-day simple moving average is C$13.78 and its 200-day simple moving average is C$13.40. TransAlta Renewables has a 52 week low of C$9.76 and a 52 week high of C$14.34. The company has a market capitalization of $3.39 billion and a price-to-earnings ratio of 15.86. The company has a quick ratio of 0.90, a current ratio of 2.10 and a debt-to-equity ratio of 41.50.

TransAlta Renewables (TSE:RNW) last announced its quarterly earnings data on Monday, May 13th. The company reported C$0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.22 by C$0.07. The business had revenue of C$127.00 million during the quarter, compared to analysts’ expectations of C$116.40 million.

The firm also recently announced a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.0783 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date is Wednesday, August 14th. TransAlta Renewables’s dividend payout ratio (DPR) is presently 116.77%.

About TransAlta Renewables

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 6, 2019, it owned and operated 21 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, and 1 natural gas pipeline comprising an ownership interest of 2,414 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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Earnings History and Estimates for TransAlta Renewables (TSE:RNW)

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