Altus Power (AMPS) Set to Announce Earnings on Thursday

Altus Power (NYSE:AMPS) is scheduled to post its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Altus Power to post earnings of ($0.06) per share for the quarter. Altus Power has set its FY 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Altus Power (NYSE:AMPS) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The business had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. On average, analysts expect Altus Power to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Altus Power Stock Performance

Altus Power stock opened at $4.42 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a 1 year low of $3.40 and a 1 year high of $7.28. The company has a market cap of $703.14 million, a PE ratio of -62.71 and a beta of 0.98. The company’s 50-day moving average is $4.92 and its two-hundred day moving average is $5.49.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMPS shares. B. Riley cut their price target on shares of Altus Power from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Altus Power in a report on Thursday, April 11th. Maxim Group started coverage on shares of Altus Power in a research note on Wednesday, April 10th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Roth Mkm reissued a “buy” rating and issued a $7.00 price objective on shares of Altus Power in a report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.25.

Insider Activity at Altus Power

In related news, CEO Gregg J. Felton purchased 12,500 shares of Altus Power stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the transaction, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at approximately $56,856,202.34. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Gregg J. Felton bought 12,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average price of $4.78 per share, for a total transaction of $59,750.00. Following the transaction, the chief executive officer now directly owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the completion of the transaction, the insider now owns 3,907,536 shares in the company, valued at approximately $27,430,902.72. The disclosure for this sale can be found here. Insiders sold a total of 43,673 shares of company stock valued at $307,748 in the last quarter. Insiders own 24.30% of the company’s stock.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.