Atlantica Sustainable Infrastructure (NASDAQ:AY) Downgraded by StockNews.com

StockNews.com downgraded shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada cut 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 report on Monday, March 4th. UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and increased their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. Bank of America cut their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a buy rating on the stock in a research report on Tuesday, March 26th. BMO Capital Markets cut their price target on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a market perform rating on the stock in a research 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 research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Stock Down 2.2 %

AY opened at $19.97 on Tuesday. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $27.32. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. The firm’s fifty day moving average price is $18.26 and its two-hundred day moving average price is $18.99. The company has a market capitalization of $2.32 billion, a P/E ratio of 47.55, a P/E/G ratio of 1.10 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping 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 firm had revenue of $241.31 million for the quarter, compared to the consensus estimate of $243.81 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. On average, analysts anticipate that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 423.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rational Advisors LLC raised its stake in Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,025 shares in the last quarter. Riverview Trust Co acquired a new position in Atlantica Sustainable Infrastructure during the third quarter worth about $43,000. IFP Advisors Inc grew its holdings in shares of Atlantica Sustainable Infrastructure by 37.1% during the third 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. Clear Street Markets LLC bought a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth about $50,000. Finally, Clean Yield Group grew its holdings in shares of Atlantica Sustainable Infrastructure by 71.4% during the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds 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.