Zacks: Analysts Anticipate Atlas Corp. (NYSE:ATCO) Will Post Quarterly Sales of $416.17 Million

Equities research analysts expect that Atlas Corp. (NYSE:ATCOGet Rating) will announce $416.17 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Atlas’ earnings, with the lowest sales estimate coming in at $413.70 million and the highest estimate coming in at $417.55 million. Atlas reported sales of $372.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The firm is expected to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Atlas will report full-year sales of $1.73 billion for the current financial year, with estimates ranging from $1.71 billion to $1.73 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.92 billion, with estimates ranging from $1.78 billion to $2.08 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Atlas.

Atlas (NYSE:ATCOGet Rating) last posted its quarterly earnings data on Tuesday, February 15th. The company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). Atlas had a net margin of 24.32% and a return on equity of 13.39%. The firm had revenue of $428.20 million during the quarter, compared to the consensus estimate of $437.17 million. During the same period in the prior year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year.

Several brokerages recently issued reports on ATCO. TheStreet lowered shares of Atlas from a “b-” rating to a “c+” rating in a research note on Thursday, April 14th. Zacks Investment Research lowered shares of Atlas from a “buy” rating to a “hold” rating in a research note on Monday, February 21st. Finally, Bank of America lowered shares of Atlas from a “neutral” rating to an “underperform” rating and set a $14.50 target price on the stock. in a research note on Thursday, February 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.30.

NYSE:ATCO opened at $12.97 on Friday. The firm’s fifty day moving average is $14.47 and its 200-day moving average is $14.35. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.43 and a current ratio of 0.47. Atlas has a 52 week low of $12.35 and a 52 week high of $16.49. The firm has a market cap of $3.21 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.60 and a beta of 1.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Wednesday, April 20th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, April 19th. Atlas’s dividend payout ratio (DPR) is 39.37%.

Several institutional investors have recently added to or reduced their stakes in ATCO. Citigroup Inc. lifted its stake in shares of Atlas by 147.0% in the fourth quarter. Citigroup Inc. now owns 3,181 shares of the company’s stock valued at $45,000 after buying an additional 1,893 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Atlas in the fourth quarter valued at $64,000. Asset Management One Co. Ltd. bought a new position in shares of Atlas in the fourth quarter valued at $113,000. SPC Financial Inc. bought a new position in shares of Atlas in the fourth quarter valued at $145,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Atlas in the fourth quarter valued at $160,000. 75.31% of the stock is currently owned by hedge funds and other institutional investors.

About Atlas (Get Rating)

Atlas Corp. operates as an asset manager and operator. The company, through its subsidiaries, operates as an independent charter owner and manager of containerships. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies. As of March 10, 2020, it operated a fleet of 118 containerships.

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