Equities Analysts Offer Predictions for Atlantica Sustainable Infrastructure plc’s Q1 2024 Earnings (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Equities researchers at Raymond James raised their Q1 2024 earnings per share estimates for Atlantica Sustainable Infrastructure in a note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the utilities provider will earn ($0.11) per share for the quarter, up from their previous forecast of ($0.13). The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.53 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at $0.44 EPS, Q1 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.16 EPS and Q4 2025 earnings at ($0.07) EPS.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating 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 business had revenue of $241.31 million during the quarter, compared to the consensus estimate of $243.81 million. During the same quarter last year, the firm posted $0.03 EPS.

A number of other research analysts have also commented on AY. Bank of America decreased their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. StockNews.com lowered Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada dropped their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $19.95 on Monday. The company’s 50-day moving average is $18.28 and its 200-day moving average is $19.02. 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 firm has a market capitalization of $2.32 billion, a PE ratio of 47.50, a PEG ratio of 1.02 and a beta of 0.97. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $26.95.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of Atlantica Sustainable Infrastructure by 37.1% during the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after buying an additional 698 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth $280,000. Mission Wealth Management LP boosted its holdings in shares of Atlantica Sustainable Infrastructure by 12.0% during the 3rd quarter. Mission Wealth Management LP now owns 26,175 shares of the utilities provider’s stock valued at $500,000 after acquiring an additional 2,809 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in shares of Atlantica Sustainable Infrastructure by 0.6% during the third quarter. Ceredex Value Advisors LLC now owns 463,350 shares of the utilities provider’s stock worth $8,850,000 after purchasing an additional 2,550 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Atlantica Sustainable Infrastructure by 53.4% in the third quarter. Lindbrook Capital LLC now owns 20,060 shares of the utilities provider’s stock valued at $383,000 after buying an additional 6,980 shares during the period. 40.53% of the stock is owned by institutional investors.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 8.92%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 423.82%.

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 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.