Zacks: Brokerages Anticipate Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Will Announce Quarterly Sales of $273.82 Million

Brokerages expect that Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Rating) will report sales of $273.82 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Atlantica Sustainable Infrastructure’s earnings, with the lowest sales estimate coming in at $252.40 million and the highest estimate coming in at $286.03 million. Atlantica Sustainable Infrastructure posted sales of $235.19 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.4%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Atlantica Sustainable Infrastructure will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.17 billion to $1.26 billion. For the next year, analysts anticipate that the firm will post sales of $1.27 billion, with estimates ranging from $1.23 billion to $1.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Atlantica Sustainable Infrastructure.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last announced its quarterly earnings results on Monday, February 28th. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.21). The firm had revenue of $271.33 million for the quarter, compared to analyst estimates of $274.34 million. Atlantica Sustainable Infrastructure had a negative net margin of 2.48% and a negative return on equity of 1.68%. During the same period in the previous year, the business posted ($0.47) earnings per share.

A number of research firms recently commented on AY. StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised Atlantica Sustainable Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Raymond James set a $43.00 price target on Atlantica Sustainable Infrastructure and gave the company an “outperform” rating in a research note on Tuesday, March 1st. JPMorgan Chase & Co. assumed coverage on Atlantica Sustainable Infrastructure in a research note on Thursday, March 24th. They issued a “neutral” rating and a $40.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on Atlantica Sustainable Infrastructure in a research note on Wednesday, April 6th. They issued a “market perform” rating and a $37.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlantica Sustainable Infrastructure has an average rating of “Hold” and a consensus price target of $41.11.

Atlantica Sustainable Infrastructure stock opened at $31.08 on Friday. The stock’s 50 day moving average is $33.72 and its 200 day moving average is $35.04. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.42 and a quick ratio of 1.38. The firm has a market cap of $3.49 billion, a P/E ratio of -119.54 and a beta of 0.75. Atlantica Sustainable Infrastructure has a one year low of $29.50 and a one year high of $41.32.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Monday, March 14th were issued a dividend of $0.44 per share. This is an increase from Atlantica Sustainable Infrastructure’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, March 11th. This represents a $1.76 annualized dividend and a dividend yield of 5.66%. Atlantica Sustainable Infrastructure’s payout ratio is currently -676.92%.

A number of institutional investors have recently made changes to their positions in AY. FMR LLC purchased a new stake in Atlantica Sustainable Infrastructure in the 1st quarter valued at $26,976,000. First Trust Advisors LP raised its position in Atlantica Sustainable Infrastructure by 3.8% in the 1st quarter. First Trust Advisors LP now owns 97,845 shares of the utilities provider’s stock valued at $1,904,000 after buying an additional 3,562 shares during the last quarter. Millennium Management LLC purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $448,000. Wells Fargo & Company MN raised its position in Atlantica Sustainable Infrastructure by 48.6% in the 2nd quarter. Wells Fargo & Company MN now owns 43,434 shares of the utilities provider’s stock valued at $1,616,000 after buying an additional 14,215 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Atlantica Sustainable Infrastructure by 79.8% in the 3rd quarter. SG Americas Securities LLC now owns 25,688 shares of the utilities provider’s stock valued at $886,000 after buying an additional 11,399 shares during the last quarter. Institutional investors and hedge funds own 40.05% of the company’s stock.

About Atlantica Sustainable Infrastructure (Get Rating)

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. It owns 39 assets comprising 2,044 megawatts (MW) of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 55 thermal megawatts of district heating capacity; 1,229 miles of electric transmission lines; and 17.5 million cubic feet per day of water desalination assets.

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