FY2024 Earnings Estimate for Atlantica Sustainable Infrastructure plc Issued By Raymond James (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) - Stock analysts at Raymond James upped their FY2024 earnings per share estimates for shares of Atlantica Sustainable Infrastructure in a report issued on Wednesday, May 8th. Raymond James analyst D. Quezada now expects that the utilities provider will earn $0.50 per share for the year, up from their previous forecast of $0.44. 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 Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.18 EPS and FY2025 earnings at $0.54 EPS.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $242.93 million for the quarter, compared to the consensus estimate of $240.87 million. During the same period last year, the firm earned ($0.09) EPS.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Atlantica Sustainable Infrastructure from a "sell" rating to a "hold" rating in a research note on Thursday. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, April 3rd. 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. BMO Capital Markets raised their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an "outperform" rating on the stock in a report on Monday, March 4th. Six equities research 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, the company presently has an average rating of "Hold" and an average target price of $23.13.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY stock traded up $0.70 during mid-day trading on Friday, hitting $22.95. 2,381,939 shares of the stock were exchanged, compared to its average volume of 1,142,941. The firm has a fifty day moving average of $18.76 and a 200 day moving average of $19.22. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $26.95. The company has a market cap of $2.66 billion, a PE ratio of 54.64, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Atlantica Sustainable Infrastructure by 1.2% during the third quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider's stock worth $55,915,000 after purchasing an additional 33,635 shares during the last quarter. Neumeier Poma Investment Counsel LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 1.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider's stock worth $25,294,000 after purchasing an additional 24,300 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth approximately $24,218,000. Advisors Capital Management LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 32.2% during the third quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider's stock worth $18,916,000 after purchasing an additional 241,417 shares during the last quarter. Finally, Norges Bank acquired a new position in Atlantica Sustainable Infrastructure during the fourth quarter worth $15,487,000. Hedge funds and other institutional investors own 40.53% of the company's stock.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 7.76%. The ex-dividend date is Friday, May 31st. Atlantica Sustainable Infrastructure's dividend payout ratio is currently 423.81%.

About Atlantica Sustainable Infrastructure

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.