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TransAlta (TAC) Outpaces Stock Market Gains: What You Should Know
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TransAlta (TAC - Free Report) closed the most recent trading day at $10.08, moving +1.72% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Prior to today's trading, shares of the power generation and marketing company had gained 3.99% over the past month. This has outpaced the Utilities sector's loss of 1% and the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from TransAlta as it approaches its next earnings report date. This is expected to be August 4, 2023. The company is expected to report EPS of -$0.08, up 66.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1 per share and revenue of $2.42 billion, which would represent changes of +1350% and +5.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for TransAlta. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.05% higher. TransAlta currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that TransAlta has a Forward P/E ratio of 9.94 right now. Its industry sports an average Forward P/E of 16.72, so we one might conclude that TransAlta is trading at a discount comparatively.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 (TAC) Outpaces Stock Market Gains: What You Should Know
TransAlta (TAC - Free Report) closed the most recent trading day at $10.08, moving +1.72% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Prior to today's trading, shares of the power generation and marketing company had gained 3.99% over the past month. This has outpaced the Utilities sector's loss of 1% and the S&P 500's gain of 3.18% in that time.
Wall Street will be looking for positivity from TransAlta as it approaches its next earnings report date. This is expected to be August 4, 2023. The company is expected to report EPS of -$0.08, up 66.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1 per share and revenue of $2.42 billion, which would represent changes of +1350% and +5.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for TransAlta. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.05% higher. TransAlta currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that TransAlta has a Forward P/E ratio of 9.94 right now. Its industry sports an average Forward P/E of 16.72, so we one might conclude that TransAlta is trading at a discount comparatively.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.