National Bank Financial Analysts Boost Earnings Estimates for Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AYFree Report) – Analysts at National Bank Financial boosted their FY2024 earnings per share estimates for shares of Atlantica Sustainable Infrastructure in a research report issued to clients and investors on Sunday, March 3rd. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings per share of $0.39 for the year, up from their previous estimate of $0.15. The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.27 per share. National Bank Financial also issued estimates for Atlantica Sustainable Infrastructure’s Q4 2024 earnings at ($0.15) EPS.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday. BMO Capital Markets cut their price objective on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and an average target price of $23.75.

Get Our Latest Analysis on AY

Atlantica Sustainable Infrastructure Stock Down 0.3 %

Atlantica Sustainable Infrastructure stock opened at $17.43 on Wednesday. The firm has a market capitalization of $2.02 billion, a PE ratio of 41.50 and a beta of 0.97. The company’s 50-day moving average is $19.44 and its 200-day moving average is $19.73. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $29.81. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.70.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last issued its quarterly 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 firm had revenue of $241.31 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $0.03 earnings per share.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 10.21%. The ex-dividend date of this dividend is Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is 423.82%.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at approximately $572,000. Legal & General Group Plc grew its stake in Atlantica Sustainable Infrastructure by 33.5% during the fourth quarter. Legal & General Group Plc now owns 550,750 shares of the utilities provider’s stock valued at $11,841,000 after acquiring an additional 138,097 shares in the last quarter. Barclays PLC grew its stake in Atlantica Sustainable Infrastructure by 429.8% during the fourth quarter. Barclays PLC now owns 57,366 shares of the utilities provider’s stock valued at $1,234,000 after acquiring an additional 46,538 shares in the last quarter. Vident Advisory LLC purchased a new position in Atlantica Sustainable Infrastructure during the fourth quarter valued at approximately $215,000. Finally, Baird Financial Group Inc. grew its stake in Atlantica Sustainable Infrastructure by 0.4% in the 4th quarter. Baird Financial Group Inc. now owns 216,587 shares of the utilities provider’s stock worth $4,657,000 after buying an additional 962 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

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Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.

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Earnings History and Estimates for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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