Q1 2024 Earnings Estimate for Atlantica Sustainable Infrastructure plc Issued By Raymond James (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Raymond James boosted their Q1 2024 EPS estimates for shares of Atlantica Sustainable Infrastructure in a research note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the utilities provider will earn ($0.11) per share for the quarter, up from their previous estimate of ($0.13). The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.53 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at $0.44 EPS, Q1 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.16 EPS and Q4 2025 earnings at ($0.07) EPS.

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

A number of other research analysts have also issued reports on the stock. Bank of America lowered their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Royal Bank of Canada lowered their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. BMO Capital Markets reduced their price target on shares of 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, National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $20.00 on Monday. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $26.95. The firm’s fifty day simple moving average is $18.27 and its 200 day simple moving average is $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. The firm has a market capitalization of $2.32 billion, a PE ratio of 47.62, a PEG ratio of 1.10 and a beta of 0.97.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

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

Atlantica Sustainable Infrastructure Dividend Announcement

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

About Atlantica Sustainable Infrastructure

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.