Raymond James Research Analysts Decrease Earnings Estimates for Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) – Equities researchers at Raymond James decreased their FY2023 earnings per share (EPS) estimates for shares of Atlantica Sustainable Infrastructure in a research note issued to investors on Wednesday, March 1st. Raymond James analyst D. Quezada now anticipates that the utilities provider will earn $0.18 per share for the year, down from their prior forecast of $0.25. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.20 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2023 earnings at $0.02 EPS.

Several other analysts also recently commented on the company. Royal Bank of Canada raised Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Tuesday, January 17th. TheStreet cut Atlantica Sustainable Infrastructure from a “c-” rating to a “d+” rating in a report on Tuesday, November 29th. Morgan Stanley lowered their target price on Atlantica Sustainable Infrastructure from $36.00 to $33.00 and set an “equal weight” rating for the company in a report on Monday, January 30th. JPMorgan Chase & Co. lowered their target price on Atlantica Sustainable Infrastructure from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday. Finally, StockNews.com upgraded Atlantica Sustainable Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, December 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Atlantica Sustainable Infrastructure has an average rating of “Hold” and a consensus price target of $33.86.

Atlantica Sustainable Infrastructure Stock Performance

AY stock opened at $28.65 on Friday. The business’s fifty day moving average is $26.73 and its 200-day moving average is $28.19. The company has a quick ratio of 2.11, a current ratio of 2.17 and a debt-to-equity ratio of 2.87. The company has a market cap of $3.22 billion, a P/E ratio of -716.25 and a beta of 0.83. Atlantica Sustainable Infrastructure has a twelve month low of $24.42 and a twelve month high of $36.85.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Atlantica Sustainable Infrastructure by 63.6% during the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 371 shares during the period. Kepos Capital LP lifted its position in Atlantica Sustainable Infrastructure by 3.9% during the third quarter. Kepos Capital LP now owns 10,313 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 387 shares during the last quarter. Virtu Financial LLC lifted its position in Atlantica Sustainable Infrastructure by 4.0% during the fourth quarter. Virtu Financial LLC now owns 10,241 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 395 shares during the last quarter. Dana Investment Advisors Inc. lifted its position in Atlantica Sustainable Infrastructure by 1.4% during the third quarter. Dana Investment Advisors Inc. now owns 29,605 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 411 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Atlantica Sustainable Infrastructure by 122.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 550 shares during the last quarter. Institutional investors own 39.37% of the company’s stock.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 25th. Stockholders of record on Tuesday, March 14th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Monday, March 13th. Atlantica Sustainable Infrastructure’s payout ratio is -4,450.00%.

About Atlantica Sustainable Infrastructure

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Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.