Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Declares Quarterly Dividend of $0.45

Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Get Free Report) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 31st will be paid a dividend of 0.445 per share by the utilities provider on Friday, June 14th. This represents a $1.78 annualized dividend and a yield of 8.00%. The ex-dividend date is Friday, May 31st.

Atlantica Sustainable Infrastructure has increased its dividend by an average of 2.4% annually over the last three years. Atlantica Sustainable Infrastructure has a dividend payout ratio of 258.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Atlantica Sustainable Infrastructure to earn $0.62 per share next year, which means the company may not be able to cover its $1.78 annual dividend with an expected future payout ratio of 287.1%.

Atlantica Sustainable Infrastructure Trading Up 2.7 %

AY traded up $0.59 during trading on Thursday, hitting $22.25. 2,222,786 shares of the stock traded hands, compared to its average volume of 1,126,564. The firm has a market capitalization of $2.58 billion, a P/E ratio of 52.96, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month 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. The firm has a 50-day moving average of $18.76 and a 200 day moving average of $19.22.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. 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 for the quarter, compared to analyst estimates of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period last year, the company earned ($0.09) EPS. Equities research analysts anticipate that Atlantica Sustainable Infrastructure will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AY shares. 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 on the stock in a report on Monday, March 4th. National Bank Financial cut Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, April 3rd. StockNews.com cut Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a research note on Tuesday, April 23rd. Bank of America lowered their price target on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, March 26th. Finally, 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 on the stock in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.75.

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.