Seaport Res Ptn Analysts Lower Earnings Estimates for Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Investment analysts at Seaport Res Ptn decreased their FY2024 EPS estimates for shares of Atlantica Sustainable Infrastructure in a report issued on Thursday, November 9th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $0.00 per share for the year, down from their previous forecast of $0.02. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.36 per share.

Several other brokerages have also weighed in on AY. BMO Capital Markets cut their price objective on shares of Atlantica Sustainable Infrastructure from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a report on Thursday, October 5th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Atlantica Sustainable Infrastructure from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. National Bank Financial cut their price objective on shares of Atlantica Sustainable Infrastructure from $29.00 to $25.00 in a report on Wednesday, October 11th. Finally, Royal Bank of Canada cut their price objective on shares of Atlantica Sustainable Infrastructure from $34.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and an average target price of $24.63.

Atlantica Sustainable Infrastructure Trading Down 0.8 %

Shares of AY stock opened at $17.99 on Friday. The firm has a market cap of $2.02 billion, a P/E ratio of 41.84 and a beta of 0.88. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $29.81. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.84 and a quick ratio of 1.77. The firm’s 50-day simple moving average is $19.52 and its 200-day simple moving average is $22.53.

Institutional Trading of Atlantica Sustainable Infrastructure

Several large investors have recently bought and sold shares of the company. Rational Advisors LLC grew its position in Atlantica Sustainable Infrastructure by 740.8% in the third quarter. Rational Advisors LLC now owns 2,186 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 1,926 shares in the last quarter. Deutsche Bank AG grew its position in Atlantica Sustainable Infrastructure by 3.2% in the third quarter. Deutsche Bank AG now owns 714,236 shares of the utilities provider’s stock valued at $13,642,000 after acquiring an additional 22,420 shares in the last quarter. Rock Point Advisors LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth approximately $1,492,000. Neumeier Poma Investment Counsel LLC grew its position in shares of Atlantica Sustainable Infrastructure by 1.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider’s stock worth $25,294,000 after buying an additional 24,300 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Atlantica Sustainable Infrastructure by 3.0% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 327,097 shares of the utilities provider’s stock worth $6,248,000 after buying an additional 9,492 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 9.89%. The ex-dividend date is Wednesday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 413.95%.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.