Atlantica Sustainable Infrastructure (NASDAQ:AY) Posts Earnings Results, Beats Estimates By $0.07 EPS

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) announced its earnings results on Wednesday. The utilities provider reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07, Zacks reports. The company 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 quarter in the prior year, the company earned ($0.09) EPS.

Atlantica Sustainable Infrastructure Stock Up 2.7 %

Atlantica Sustainable Infrastructure stock traded up $0.59 during midday trading on Thursday, hitting $22.25. 2,222,786 shares of the stock were exchanged, compared to its average volume of 1,126,564. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 52.96, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $26.95. The business's 50-day moving average price is $18.76 and its 200-day moving average price is $19.22.

Atlantica Sustainable Infrastructure Dividend Announcement

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 $0.445 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.78 annualized dividend and a dividend yield of 8.00%. Atlantica Sustainable Infrastructure's dividend payout ratio is currently 423.81%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price 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. Bank of America decreased their target price 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. StockNews.com lowered Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a report on Tuesday, April 23rd. UBS Group upgraded Atlantica Sustainable Infrastructure from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $19.00 to $25.00 in a report on Friday, March 22nd. Finally, National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.75.

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.