Atlantica Sustainable Infrastructure plc to Post Q1 2024 Earnings of ($0.11) Per Share, Raymond James Forecasts (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Analysts at Raymond James lifted their Q1 2024 earnings estimates for Atlantica Sustainable Infrastructure in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the utilities provider will earn ($0.11) per share for the quarter, up from their previous estimate of ($0.13). The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.53 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at $0.44 EPS, Q1 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.16 EPS and Q4 2025 earnings at ($0.07) EPS.

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, beating the consensus estimate of ($0.23) by $0.25. The company had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same quarter in the prior year, the business earned $0.03 earnings per share.

AY has been the subject of a number of other reports. Bank of America cut their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price objective for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. National Bank Financial lowered shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets lowered 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $19.57 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The firm has a market capitalization of $2.27 billion, a PE ratio of 46.60, a P/E/G ratio of 1.02 and a beta of 0.97. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $26.95. The company has a 50-day moving average price of $18.29 and a two-hundred day moving average price of $19.04.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Insight Folios Inc raised its stake in shares of Atlantica Sustainable Infrastructure by 2.5% during the 4th quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock worth $494,000 after buying an additional 566 shares during the period. IFP Advisors Inc grew its holdings 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 valued at $49,000 after buying an additional 698 shares in the last quarter. PFG Investments LLC grew its holdings in Atlantica Sustainable Infrastructure by 3.6% in the 3rd quarter. PFG Investments LLC now owns 21,925 shares of the utilities provider’s stock valued at $419,000 after buying an additional 771 shares in the last quarter. Private Advisor Group LLC grew its holdings in Atlantica Sustainable Infrastructure by 4.3% in the 1st quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock valued at $387,000 after buying an additional 864 shares in the last quarter. Finally, Rational Advisors LLC grew its holdings in Atlantica Sustainable Infrastructure by 113.8% in the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were paid 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 9.10%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 423.82%.

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.