Q2 2024 Earnings Forecast for Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Issued By Raymond James

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Analysts at Raymond James lifted their Q2 2024 earnings per share estimates for shares of Atlantica Sustainable Infrastructure in a research note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the utilities provider will earn $0.29 per share for the quarter, up from their prior estimate of $0.24. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.50 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q3 2024 earnings at $0.31 EPS, Q2 2025 earnings at $0.32 EPS and FY2025 earnings at $0.57 EPS.

Several other research firms have also commented on AY. Bank of America reduced their price objective on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Royal Bank of Canada decreased their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. National Bank Financial lowered shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. BMO Capital Markets dropped their price objective on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, March 5th. Finally, StockNews.com downgraded Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Stock Up 0.2 %

AY stock opened at $20.00 on Friday. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $26.95. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. The business has a fifty day moving average price of $18.27 and a 200-day moving average price of $19.01. The stock has a market capitalization of $2.32 billion, a P/E ratio of 47.62, a P/E/G ratio of 1.10 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same period in the prior year, the firm earned $0.03 earnings per share.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rational Advisors LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% in the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares during the period. Riverview Trust Co purchased a new position in Atlantica Sustainable Infrastructure during the first quarter valued at approximately $42,000. IFP Advisors Inc lifted its holdings in Atlantica Sustainable Infrastructure by 37.1% in the third quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 698 shares during the period. Clear Street Markets LLC purchased a new stake in Atlantica Sustainable Infrastructure in the 3rd quarter worth approximately $50,000. Finally, Clean Yield Group boosted its position in Atlantica Sustainable Infrastructure by 71.4% in the 4th quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 8.90%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s payout ratio is 423.82%.

About Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.