Seaport Res Ptn Brokers Increase Earnings Estimates for Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Research analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for shares of Atlantica Sustainable Infrastructure in a report released on Tuesday, May 21st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $0.69 per share for the year, up from their previous estimate of $0.42. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.41 per share.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same period in the prior year, the business posted ($0.09) EPS.

Several other research firms have also recently weighed in on AY. StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Friday, May 17th. BMO Capital Markets increased their price objective on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada dropped their price objective 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 assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.13.

Atlantica Sustainable Infrastructure Trading Up 1.8 %

Shares of AY stock opened at $23.15 on Thursday. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $25.78. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. The business has a 50-day moving average of $19.65 and a 200 day moving average of $19.52. The stock has a market capitalization of $2.69 billion, a PE ratio of 50.33, a P/E/G ratio of 1.50 and a beta of 0.94.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date is Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AY. Robeco Institutional Asset Management B.V. bought a new stake in shares of Atlantica Sustainable Infrastructure in the 4th quarter worth $27,000. Rational Advisors LLC increased 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 worth $36,000 after purchasing an additional 1,025 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Atlantica Sustainable Infrastructure in the 1st quarter worth $42,000. Clear Street Markets LLC bought a new stake in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth $50,000. Finally, Clean Yield Group increased its holdings in shares of 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 own 40.53% of the company’s stock.

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.