Atlantica Yield (AY) PT Set at $27.00 by Guggenheim

Atlantica Yield (NASDAQ:AY) has been given a $27.00 price objective by equities researchers at Guggenheim in a report issued on Thursday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price target indicates a potential upside of 27.06% from the stock’s previous close.

AY has been the topic of several other reports. Zacks Investment Research lowered Atlantica Yield from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. BidaskClub upgraded Atlantica Yield from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 18th. Royal Bank of Canada restated a “buy” rating and set a $23.00 price target on shares of Atlantica Yield in a research report on Monday, October 30th. Finally, Bank of America restated a “buy” rating and set a $24.00 price target on shares of Atlantica Yield in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.60.

Shares of Atlantica Yield (NASDAQ:AY) traded up $0.23 during trading on Thursday, hitting $21.25. The stock had a trading volume of 228,688 shares, compared to its average volume of 578,792. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.23 and a quick ratio of 2.20. The company has a market cap of $2,110.00, a price-to-earnings ratio of 75.89, a PEG ratio of 0.99 and a beta of 1.10. Atlantica Yield has a 12-month low of $19.30 and a 12-month high of $25.99.

Atlantica Yield (NASDAQ:AY) last announced its quarterly earnings data on Monday, November 13th. The utilities provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). The firm had revenue of $291.96 million for the quarter. Atlantica Yield had a net margin of 2.85% and a return on equity of 1.41%. analysts expect that Atlantica Yield will post 0.24 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC bought a new stake in shares of Atlantica Yield in the 2nd quarter worth approximately $2,367,000. Goldman Sachs Group Inc. grew its position in shares of Atlantica Yield by 72.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 619,991 shares of the utilities provider’s stock worth $13,243,000 after buying an additional 260,309 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Atlantica Yield by 63.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 114,126 shares of the utilities provider’s stock worth $2,438,000 after buying an additional 44,185 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Atlantica Yield in the 3rd quarter worth approximately $3,978,000. Finally, Kalos Management Inc. bought a new stake in shares of Atlantica Yield in the 3rd quarter worth approximately $1,859,000. Institutional investors and hedge funds own 51.00% of the company’s stock.

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Atlantica Yield Company Profile

Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).

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