Atlantica Sustainable Infrastructure plc Expected to Earn Q2 2023 Earnings of $0.26 Per Share (NASDAQ:AY)

Posted by Defense World Staff on May 11th, 2023

Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) – Investment analysts at Raymond James boosted their Q2 2023 earnings estimates for shares of Atlantica Sustainable Infrastructure in a report issued on Monday, May 8th. Raymond James analyst D. Quezada now forecasts that the utilities provider will earn $0.26 per share for the quarter, up from their prior estimate of $0.25. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.15 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2023 earnings at $0.00 EPS.

Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) last posted its earnings results on Wednesday, March 1st. The utilities provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.23. The company had revenue of $243.62 million during the quarter, compared to the consensus estimate of $250.09 million. Atlantica Sustainable Infrastructure had a negative return on equity of 0.24% and a negative net margin of 0.40%.

A number of other equities analysts have also weighed in on the company. National Bank Financial raised Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Monday. Bank of America raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, March 8th. Morgan Stanley lowered their target price on Atlantica Sustainable Infrastructure from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. National Bankshares raised Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Monday. Finally, StockNews.com began coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.75.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $26.11 on Wednesday. The stock has a market cap of $2.93 billion, a P/E ratio of -870.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company has a current ratio of 1.99, a quick ratio of 1.92 and a debt-to-equity ratio of 2.92. The stock’s 50-day moving average is $27.47 and its 200-day moving average is $27.18. Atlantica Sustainable Infrastructure has a 1-year low of $24.42 and a 1-year high of $36.35.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in Atlantica Sustainable Infrastructure by 63.6% during the 2nd quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 371 shares during the period. Endurance Wealth Management Inc. purchased a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at $32,000. Point72 Asset Management L.P. purchased a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at $32,000. Sentry Investment Management LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at $35,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Atlantica Sustainable Infrastructure by 122.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 550 shares during the period. 39.37% of the stock is owned by institutional investors.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date of this dividend is Tuesday, May 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently -5,933.33%.

Atlantica Sustainable Infrastructure Company Profile

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Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.