Raymond James Equities Analysts Raise Earnings Estimates for Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) – Analysts at Raymond James upped their Q1 2024 earnings per share estimates for shares of Atlantica Sustainable Infrastructure in a note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the utilities provider will post earnings per share of ($0.11) for the quarter, up from their prior 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 data on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same period in the previous year, the firm posted $0.03 EPS.

AY has been the topic of several other research reports. BMO Capital Markets reduced their price target on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. Bank of America reduced their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Royal Bank of Canada reduced 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 research report on Monday, March 4th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Trading Up 0.2 %

Shares of Atlantica Sustainable Infrastructure stock opened at $20.00 on Monday. The stock has a market cap of $2.32 billion, a P/E ratio of 47.62, a P/E/G ratio of 1.10 and a beta of 0.97. The stock’s 50 day simple moving average is $18.27 and its 200-day simple moving average is $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 debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several large investors have recently bought and sold shares of AY. Robeco Institutional Asset Management B.V. acquired a new position in Atlantica Sustainable Infrastructure in the fourth quarter valued at $27,000. Rational Advisors LLC boosted its stake in Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,025 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Atlantica Sustainable Infrastructure during the first quarter worth about $42,000. IFP Advisors Inc boosted its stake in shares of Atlantica Sustainable Infrastructure by 37.1% during the third quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after buying an additional 698 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth about $50,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

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 paid a dividend of $0.445 per share. The ex-dividend date was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.90%. Atlantica Sustainable Infrastructure’s payout ratio is currently 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.