Research Analysts Offer Predictions for Atlantica Sustainable Infrastructure plc’s Q2 2024 Earnings (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Stock analysts at Raymond James lifted their Q2 2024 EPS estimates for shares of Atlantica Sustainable Infrastructure in a research note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the utilities provider will post earnings of $0.29 per share for the quarter, up from their previous forecast of $0.24. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.50 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q3 2024 earnings at $0.31 EPS, Q2 2025 earnings at $0.32 EPS and FY2025 earnings at $0.57 EPS.

A number of other analysts have also issued reports on AY. StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Tuesday. Bank of America cut their target price 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. BMO Capital Markets cut their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 5th. UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and upped their target price for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. Finally, National Bank Financial lowered shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure has an average rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Stock Down 2.2 %

Shares of NASDAQ:AY opened at $19.97 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 capitalization of $2.32 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The firm’s 50-day moving average is $18.26 and its two-hundred day moving average is $18.99. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $27.32.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same quarter in the prior year, the company posted $0.03 earnings per share.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tritonpoint Wealth LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at $4,007,000. Barclays PLC increased its position in Atlantica Sustainable Infrastructure by 36.6% during the 3rd quarter. Barclays PLC now owns 10,828 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 2,904 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in Atlantica Sustainable Infrastructure during the 3rd quarter worth about $399,000. Invesco Ltd. increased its position in Atlantica Sustainable Infrastructure by 1.2% during the 3rd quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock worth $55,915,000 after purchasing an additional 33,635 shares in the last quarter. Finally, Rock Point Advisors LLC purchased a new stake in Atlantica Sustainable Infrastructure during the 3rd quarter worth about $1,492,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently disclosed 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 8.91%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s payout ratio is 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.