Altus Power FY2024 EPS Forecast Lifted by Seaport Res Ptn

Altus Power, Inc. (NYSE:AMPS) – Research analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for Altus Power in a research report issued on Thursday, November 14th. Seaport Res Ptn analyst J. Campbell now expects that the company will post earnings per share of $0.12 for the year, up from their previous estimate of $0.02. The consensus estimate for Altus Power’s current full-year earnings is $0.14 per share. Seaport Res Ptn also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.07) EPS, Q1 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.05 EPS and FY2026 earnings at ($0.02) EPS.

AMPS has been the topic of several other reports. Roth Mkm restated a “buy” rating and set a $4.50 price target on shares of Altus Power in a research note on Wednesday, October 16th. UBS Group lowered their price objective on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Maxim Group cut their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday, August 12th. Citigroup decreased their price target on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Morgan Stanley cut shares of Altus Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $5.81.

Altus Power Stock Performance

NYSE:AMPS opened at $3.88 on Monday. The firm’s 50-day moving average is $3.38 and its 200-day moving average is $3.69. The company has a market cap of $623.05 million, a price-to-earnings ratio of 17.61 and a beta of 0.94. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Altus Power during the 2nd quarter worth approximately $39,000. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power during the third quarter worth $40,000. HighTower Advisors LLC bought a new stake in shares of Altus Power during the third quarter worth $41,000. Vaughan David Investments LLC IL acquired a new stake in shares of Altus Power in the second quarter valued at $55,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Altus Power in the second quarter valued at about $68,000. Institutional investors own 46.55% of the company’s stock.

About Altus Power

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.