Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have earned an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.67.

A number of research firms have issued reports on AY. BMO Capital Markets cut their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, March 5th. Bank of America cut their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. StockNews.com cut shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Royal Bank of Canada lowered their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Finally, National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd.

Atlantica Sustainable Infrastructure Stock Performance

AY stock opened at $20.00 on Tuesday. The stock has a 50-day moving average price of $18.27 and a 200-day moving average price of $19.01. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $26.95. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14. The firm has a market cap of $2.32 billion, a PE ratio of 47.62, a price-to-earnings-growth ratio of 1.10 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.25. The company had revenue of $241.31 million during the quarter, compared to the consensus estimate of $243.81 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period last year, the business posted $0.03 EPS. As a group, equities research analysts expect that Atlantica Sustainable Infrastructure will post 0.5 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 8.90%. Atlantica Sustainable Infrastructure’s payout ratio is presently 423.82%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. bought a new stake in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at $27,000. Rational Advisors LLC raised its position in shares of Atlantica Sustainable Infrastructure by 113.8% during the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,025 shares during the period. Riverview Trust Co bought a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter valued at $42,000. IFP Advisors Inc raised its position in shares of Atlantica Sustainable Infrastructure by 37.1% during the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 698 shares during the period. Finally, Clear Street Markets LLC bought a new stake in shares of Atlantica Sustainable Infrastructure during the 3rd quarter valued at $50,000. 40.53% of the stock is currently owned by institutional investors.

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.