Research Analysts Offer Predictions for Atlantica Sustainable Infrastructure plc’s Q2 2024 Earnings (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Stock analysts at Raymond James upped their Q2 2024 earnings estimates for Atlantica Sustainable Infrastructure in a research note issued on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the utilities provider will post earnings per share of $0.29 for the quarter, up from their prior forecast of $0.24. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.50 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q3 2024 earnings at $0.31 EPS, Q2 2025 earnings at $0.32 EPS and FY2025 earnings at $0.57 EPS.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate 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 company had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same period last year, the firm earned $0.03 earnings per share.

A number of other research analysts have also recently issued reports on the stock. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. Royal Bank of Canada decreased their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. StockNews.com cut shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Tuesday. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets decreased their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ:AY opened at $19.97 on Friday. The company’s 50 day simple moving average is $18.26 and its 200 day simple moving average is $18.99. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. 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 has a 1 year low of $16.35 and a 1 year high of $27.32.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced 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 was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 8.91%. Atlantica Sustainable Infrastructure’s payout ratio is 423.82%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Insight Folios Inc increased its position in shares of Atlantica Sustainable Infrastructure by 2.5% during the fourth quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 566 shares in the last quarter. IFP Advisors Inc lifted its stake in Atlantica Sustainable Infrastructure by 37.1% in 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 in the last quarter. PFG Investments LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 3.6% in the 3rd quarter. PFG Investments LLC now owns 21,925 shares of the utilities provider’s stock worth $419,000 after buying an additional 771 shares during the last quarter. Rational Advisors LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% in the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the last quarter. Finally, Sargent Investment Group LLC grew its holdings in shares of Atlantica Sustainable Infrastructure by 2.9% during the 4th quarter. Sargent Investment Group LLC now owns 42,905 shares of the utilities provider’s stock valued at $922,000 after purchasing an additional 1,205 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.