Atlantica Sustainable Infrastructure plc to Post Q1 2024 Earnings of ($0.11) Per Share, Raymond James Forecasts (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Analysts at Raymond James lifted their Q1 2024 earnings per share (EPS) estimates for Atlantica Sustainable Infrastructure in a note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects 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.

Several other research analysts have also recently commented on AY. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $25.00 in a research report on Friday, March 22nd. StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Bank of America reduced their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. BMO Capital Markets reduced their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. Finally, National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.67.

Atlantica Sustainable Infrastructure Stock Down 1.9 %

Shares of AY stock opened at $19.57 on Monday. The stock has a market cap of $2.27 billion, a P/E ratio of 46.60, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $26.95. The stock has a fifty day moving average price of $18.29 and a 200 day moving average price of $19.04. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating 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 company 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 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AY. Robeco Institutional Asset Management B.V. bought a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $27,000. Rational Advisors LLC raised its holdings 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 worth $36,000 after purchasing an additional 1,025 shares during the last quarter. Riverview Trust Co bought a new stake in Atlantica Sustainable Infrastructure during the 1st quarter worth about $42,000. IFP Advisors Inc raised its holdings 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 worth $49,000 after purchasing an additional 698 shares during the last quarter. Finally, Clear Street Markets LLC bought a new stake in Atlantica Sustainable Infrastructure during the 3rd quarter worth about $50,000. 40.53% of the stock is owned by institutional investors.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were issued a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.10%. Atlantica Sustainable Infrastructure’s dividend payout ratio is 423.82%.

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.