Brokerages Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Target Price at $23.13

Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Free Report) has been given a consensus rating of “Hold” by the eight research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.13.

Several equities research analysts have recently commented on the company. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. Bank of America cut their price objective on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $25.00 in a report on Friday, March 22nd. Royal Bank of Canada cut their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Finally, BMO Capital Markets raised their price target on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, May 10th.

Get Our Latest Analysis on Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure Trading Up 1.8 %

NASDAQ:AY opened at $23.15 on Friday. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $25.78. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 3.25. The business has a 50 day moving average price of $19.65 and a two-hundred day moving average price of $19.52. The company has a market cap of $2.69 billion, a P/E ratio of 50.33, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last released its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $242.93 million during the quarter, compared to the consensus estimate of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, analysts expect that Atlantica Sustainable Infrastructure will post 0.41 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date of this dividend is Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in Atlantica Sustainable Infrastructure by 110.8% in the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after purchasing an additional 5,164,084 shares in the last quarter. Invesco Ltd. raised its stake in Atlantica Sustainable Infrastructure by 1.2% in the third quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock valued at $55,915,000 after purchasing an additional 33,635 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its stake in Atlantica Sustainable Infrastructure by 1.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider’s stock valued at $25,294,000 after purchasing an additional 24,300 shares in the last quarter. Advisors Capital Management LLC raised its stake in Atlantica Sustainable Infrastructure by 32.2% in the third quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock valued at $18,916,000 after purchasing an additional 241,417 shares in the last quarter. Finally, Norges Bank acquired a new position in Atlantica Sustainable Infrastructure during the fourth quarter worth about $15,487,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Atlantica Sustainable Infrastructure (NASDAQ:AY)

Receive News & Ratings for Atlantica Sustainable Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlantica Sustainable Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.