Atlantica Yield PLC (ABY) Cut to “Sell” at BidaskClub
Atlantica Yield PLC (NASDAQ:ABY) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Atlantica Yield PLC from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research report on Tuesday, July 11th. TheStreet upgraded shares of Atlantica Yield PLC from a “d” rating to a “c-” rating in a report on Monday, June 12th. Finally, ValuEngine upgraded shares of Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $22.80.
Shares of Atlantica Yield PLC (NASDAQ:ABY) traded down 0.4274% during mid-day trading on Friday, hitting $20.9899. 55,397 shares of the stock traded hands. The stock has a 50-day moving average of $21.01 and a 200-day moving average of $20.89. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 67.7094 and a beta of 1.12. Atlantica Yield PLC has a 52 week low of $16.55 and a 52 week high of $22.87.
Atlantica Yield PLC (NASDAQ:ABY) last released its earnings results on Monday, May 15th. The utilities provider reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Atlantica Yield PLC had a net margin of 3.15% and a return on equity of 1.58%. The company had revenue of $198.15 million during the quarter, compared to the consensus estimate of $208 million. Analysts anticipate that Atlantica Yield PLC will post $0.49 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vivaldi Asset Management LLC purchased a new position in Atlantica Yield PLC during the second quarter worth about $6,994,000. JPMorgan Chase & Co. raised its position in Atlantica Yield PLC by 49.1% in the second quarter. JPMorgan Chase & Co. now owns 132,554 shares of the utilities provider’s stock worth $2,831,000 after buying an additional 43,648 shares during the last quarter. Bronfman E.L. Rothschild L.P. purchased a new position in Atlantica Yield PLC during the second quarter worth about $139,000. Pacad Investment Ltd. raised its position in Atlantica Yield PLC by 121.7% in the second quarter. Pacad Investment Ltd. now owns 15,300 shares of the utilities provider’s stock worth $327,000 after buying an additional 8,400 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in Atlantica Yield PLC during the second quarter worth about $3,611,000. Institutional investors and hedge funds own 56.87% of the company’s stock.
Atlantica Yield PLC Company Profile
Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).
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