Atlantica Sustainable Infrastructure (NASDAQ:AY) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) from a hold rating to a sell rating in a research report released on Tuesday morning.

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

Atlantica Sustainable Infrastructure Trading Up 0.2 %

AY opened at $20.00 on Tuesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of 47.62, a P/E/G ratio of 1.12 and a beta of 0.97. The firm’s 50 day moving average is $18.27 and its 200-day moving average is $19.01. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $26.95. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. The business had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Analysts expect that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

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

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. acquired a new stake in Atlantica Sustainable Infrastructure during the 4th quarter worth about $27,000. Rational Advisors LLC raised its holdings in Atlantica Sustainable Infrastructure by 113.8% during the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the period. Riverview Trust Co acquired a new stake in Atlantica Sustainable Infrastructure during the 1st quarter worth about $42,000. IFP Advisors Inc raised its holdings in 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 period. Finally, Clear Street Markets LLC acquired a new stake in Atlantica Sustainable Infrastructure during the 3rd quarter worth about $50,000. 40.53% of the stock is currently owned by institutional investors.

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.