Atlantica Sustainable Infrastructure (NASDAQ:AY) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a report released on Thursday morning. The firm issued a sell rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. UBS Group lowered shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and lowered their target price for the stock from $25.00 to $22.00 in a research report on Thursday, May 30th. Seaport Res Ptn lowered shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Finally, National Bankshares increased their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a sector perform rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Trading Up 0.4 %

Shares of AY opened at $21.97 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The firm’s 50-day moving average is $22.04 and its two-hundred day moving average is $21.07. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $23.47. The firm has a market capitalization of $2.55 billion, a P/E ratio of 47.76, a PEG ratio of 2.13 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The company had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. On average, research analysts predict that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 8.10%. The ex-dividend date of this dividend was Friday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in Atlantica Sustainable Infrastructure by 110.8% during the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock worth $181,595,000 after purchasing an additional 5,164,084 shares during the period. Alpine Associates Management Inc. purchased a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $23,699,000. Norges Bank purchased a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at $15,487,000. Picton Mahoney Asset Management purchased a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,719,000. Finally, Glazer Capital LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,629,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

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.