Brokers Offer Predictions for Atlantica Sustainable Infrastructure plc’s Q3 2022 Earnings (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Rating) – Investment analysts at Raymond James dropped their Q3 2022 earnings per share (EPS) estimates for shares of Atlantica Sustainable Infrastructure in a report issued on Monday, May 9th. Raymond James analyst D. Quezada now expects that the utilities provider will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.29. Raymond James currently has a “Outperform” rating and a $43.00 target price on the stock. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2022 earnings at ($0.05) EPS, FY2022 earnings at $0.29 EPS and FY2023 earnings at $0.54 EPS.

Several other analysts have also weighed in on the company. Morgan Stanley lowered their target price on Atlantica Sustainable Infrastructure from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 12th. JPMorgan Chase & Co. assumed coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, March 24th. They set a “neutral” rating and a $40.00 price objective for the company. Zacks Investment Research upgraded shares of Atlantica Sustainable Infrastructure from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. BMO Capital Markets initiated coverage on shares of Atlantica Sustainable Infrastructure in a report on Wednesday, April 6th. They set a “market perform” rating and a $37.00 price target for the company. Finally, StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.11.

Atlantica Sustainable Infrastructure stock opened at $28.89 on Thursday. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.38 and a current ratio of 1.42. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -111.12 and a beta of 0.75. Atlantica Sustainable Infrastructure has a fifty-two week low of $28.82 and a fifty-two week high of $41.32. The stock’s fifty day moving average is $33.42 and its two-hundred day moving average is $34.90.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last posted its earnings results on Monday, May 9th. The utilities provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Atlantica Sustainable Infrastructure had a negative net margin of 2.48% and a negative return on equity of 1.68%. During the same period last year, the business posted ($0.17) earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, May 27th. Atlantica Sustainable Infrastructure’s payout ratio is currently -676.92%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Capital Advisors LP raised its position in Atlantica Sustainable Infrastructure by 5.0% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,141,380 shares of the utilities provider’s stock valued at $110,168,000 after purchasing an additional 150,295 shares during the period. Invesco Ltd. raised its position in Atlantica Sustainable Infrastructure by 0.7% in the third quarter. Invesco Ltd. now owns 2,706,382 shares of the utilities provider’s stock valued at $93,397,000 after purchasing an additional 19,232 shares during the period. BlackRock Inc. raised its position in Atlantica Sustainable Infrastructure by 10.6% in the third quarter. BlackRock Inc. now owns 2,299,385 shares of the utilities provider’s stock valued at $79,352,000 after purchasing an additional 221,140 shares during the period. FMR LLC purchased a new position in Atlantica Sustainable Infrastructure in the first quarter valued at about $26,976,000. Finally, Dimensional Fund Advisors LP raised its position in Atlantica Sustainable Infrastructure by 6.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,218,045 shares of the utilities provider’s stock valued at $42,035,000 after purchasing an additional 77,789 shares during the period. Hedge funds and other institutional investors 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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Earnings History and Estimates for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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