Raymond James Research Analysts Lift Earnings Estimates for Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Equities research analysts at Raymond James upped their Q2 2024 earnings per share estimates for Atlantica Sustainable Infrastructure in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the utilities provider will post earnings of $0.29 per share for the quarter, up from their prior estimate 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.

Several other equities research analysts have also recently weighed in on AY. StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. Bank of America lowered their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BMO Capital Markets lowered their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, March 5th. Finally, Royal Bank of Canada decreased their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY stock opened at $20.00 on Friday. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $26.95. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 47.62, a P/E/G ratio of 1.12 and a beta of 0.97. The stock has a fifty day simple moving average of $18.27 and a two-hundred day simple moving average of $19.01. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

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

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.90%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 423.82%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter valued at about $27,000. Rational Advisors LLC increased its position in Atlantica Sustainable Infrastructure by 113.8% during the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares in the last quarter. Riverview Trust Co acquired a new position in Atlantica Sustainable Infrastructure during the 1st quarter valued at about $42,000. IFP Advisors Inc increased its position in Atlantica Sustainable Infrastructure by 37.1% during the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock valued at $49,000 after buying an additional 698 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter valued at about $50,000. 40.53% of the stock is owned by institutional investors and hedge funds.

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.