Atlantic Power Corp (NYSE:AT) Expected to Announce Earnings of $0.04 Per Share

Analysts expect Atlantic Power Corp (NYSE:AT) (TSE:ATP) to post $0.04 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Atlantic Power’s earnings. Atlantic Power reported earnings of ($0.06) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 166.7%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, August 1st.

According to Zacks, analysts expect that Atlantic Power will report full-year earnings of $0.24 per share for the current year. For the next financial year, analysts expect that the company will report earnings of $0.27 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Atlantic Power.

Atlantic Power (NYSE:AT) (TSE:ATP) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%. The business had revenue of $73.00 million for the quarter.

Several analysts have recently issued reports on the stock. National Bank Financial set a C$1.90 price target on shares of Troilus Gold and gave the company an “outperform” rating in a research report on Friday, May 3rd. Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $2.88.

AT stock traded down $0.02 during mid-day trading on Thursday, hitting $2.53. The company had a trading volume of 12,117 shares, compared to its average volume of 460,820. The stock has a market cap of $279.71 million, a price-to-earnings ratio of 15.94 and a beta of 0.95. The company has a debt-to-equity ratio of 130.98, a quick ratio of 0.91 and a current ratio of 1.01. Atlantic Power has a 12 month low of $2.05 and a 12 month high of $3.02. The firm’s fifty day moving average is $2.39.

In other Atlantic Power news, Director Gilbert Samuel Palter acquired 3,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $13.39 per share, with a total value of $46,865.00. Following the purchase, the director now owns 18,500 shares of the company’s stock, valued at $247,715. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Howell acquired 50,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $2.29 per share, with a total value of $114,500.00. Following the purchase, the director now directly owns 160,300 shares in the company, valued at approximately $367,087. The disclosure for this purchase can be found here. Insiders bought a total of 98,500 shares of company stock valued at $265,015 in the last ninety days. 3.40% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of Atlantic Power by 41.4% in the fourth quarter. Rhumbline Advisers now owns 154,190 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 45,146 shares during the last quarter. LPL Financial LLC grew its position in shares of Atlantic Power by 64.1% in the fourth quarter. LPL Financial LLC now owns 16,890 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 6,596 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Atlantic Power by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,086,350 shares of the utilities provider’s stock valued at $2,358,000 after purchasing an additional 43,546 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Atlantic Power by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 625,455 shares of the utilities provider’s stock valued at $1,357,000 after purchasing an additional 56,214 shares during the last quarter. Finally, Mackay Shields LLC acquired a new stake in shares of Atlantic Power in the fourth quarter valued at about $293,000. Institutional investors own 60.39% of the company’s stock.

Atlantic Power Company Profile

Atlantic Power Corp. is a power producer company, which engages in owning power generation assets. The firm operates through its segments: East U.S., West U.S., Canada and Un-Allocated Corporate. It projects sell electricity and steam to investment-grade utilities and creditworthy large customers under long term Power Purchase Agreements.

Further Reading: Neutral Rating

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