Atlantica Sustainable Infrastructure plc (NASDAQ:AY) to Post Q2 2024 Earnings of $0.29 Per Share, Raymond James Forecasts

Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) - Equities research analysts at Raymond James lifted their Q2 2024 earnings estimates for shares of Atlantica Sustainable Infrastructure in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the utilities provider will earn $0.29 per share for the quarter, up from their previous forecast of $0.24. The consensus estimate for Atlantica Sustainable Infrastructure's current full-year earnings is $0.50 per share. Raymond James also issued estimates for Atlantica Sustainable Infrastructure's Q3 2024 earnings at $0.31 EPS, Q2 2025 earnings at $0.32 EPS and FY2025 earnings at $0.57 EPS.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last released its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.25. The company had revenue of $241.31 million during the quarter, compared to the consensus estimate 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 firm earned $0.03 EPS.

A number of other research firms also recently commented on AY. UBS Group upgraded shares of 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 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, March 4th. Bank of America dropped their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, March 26th. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, April 3rd. Finally, StockNews.com cut shares of Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure has a consensus rating of "Hold" and an average price target of $23.67.

Atlantica Sustainable Infrastructure Price Performance

AY stock traded up $0.03 during mid-day trading on Friday, reaching $20.00. The company's stock had a trading volume of 1,521,051 shares, compared to its average volume of 995,139. The stock has a market cap of $2.32 billion, a PE ratio of 47.55, a P/E/G ratio of 1.12 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $26.95. The company's 50 day moving average is $18.26 and its two-hundred day moving average is $18.99.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AY. IFP Advisors Inc boosted its position 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 during the period. SG Americas Securities LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at $280,000. Mission Wealth Management LP raised its holdings in shares of Atlantica Sustainable Infrastructure by 12.0% in the 3rd quarter. Mission Wealth Management LP now owns 26,175 shares of the utilities provider's stock valued at $500,000 after purchasing an additional 2,809 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of Atlantica Sustainable Infrastructure by 0.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 463,350 shares of the utilities provider's stock valued at $8,850,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Atlantica Sustainable Infrastructure by 53.4% in the 3rd quarter. Lindbrook Capital LLC now owns 20,060 shares of the utilities provider's stock valued at $383,000 after purchasing an additional 6,980 shares in the last quarter. Hedge funds and other institutional investors own 40.53% of the company's stock.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a $0.445 dividend. The ex-dividend date was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 8.90%. Atlantica Sustainable Infrastructure's dividend payout ratio 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.