Atlantica Sustainable Infrastructure (NASDAQ:AY) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) from a hold rating to a sell rating in a research note published on Friday.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating for the company in a report on Monday, March 4th. UBS Group raised Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and lifted their target price for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. BMO Capital Markets reduced their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a market perform rating for the company in a research report on Tuesday, March 5th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research report on Wednesday, April 3rd. Finally, Bank of America cut their price objective on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of Hold and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of Atlantica Sustainable Infrastructure stock opened at $17.41 on Friday. 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 cap of $2.02 billion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The stock’s 50-day moving average is $18.25 and its 200-day moving average is $18.94. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $28.54.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $243.81 million. During the same quarter last year, the firm earned $0.03 EPS. Equities analysts predict that Atlantica Sustainable Infrastructure will post 0.49 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 10.22%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s payout ratio is presently 423.81%.

Institutional Trading of Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in Atlantica Sustainable Infrastructure by 23.9% during the 1st quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock worth $109,577,000 after buying an additional 601,826 shares during the period. BlackRock Inc. increased its position in Atlantica Sustainable Infrastructure by 1.6% during the third quarter. BlackRock Inc. now owns 2,936,202 shares of the utilities provider’s stock worth $77,223,000 after acquiring an additional 46,683 shares during the period. Amundi raised its stake in Atlantica Sustainable Infrastructure by 18.4% in the 4th quarter. Amundi now owns 2,228,509 shares of the utilities provider’s stock worth $58,381,000 after purchasing an additional 345,550 shares in the last quarter. Neumeier Poma Investment Counsel LLC boosted its holdings in Atlantica Sustainable Infrastructure by 1.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider’s stock valued at $25,294,000 after purchasing an additional 24,300 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Atlantica Sustainable Infrastructure by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,291,772 shares of the utilities provider’s stock valued at $38,183,000 after purchasing an additional 87,556 shares during the period. Institutional investors own 40.53% of the company’s stock.

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.