Atlantica Yield (NASDAQ:AY) Reaches New 12-Month High at $23.93

Shares of Atlantica Yield PLC (NASDAQ:AY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.93 and last traded at $23.89, with a volume of 11680 shares changing hands. The stock had previously closed at $23.73.

A number of equities research analysts have recently issued reports on AY shares. BidaskClub lowered Atlantica Yield from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Raymond James restated an “outperform” rating and issued a $27.00 price target on shares of Atlantica Yield in a research report on Thursday, August 8th. Citigroup upped their price target on Atlantica Yield from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, ValuEngine upgraded Atlantica Yield from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.67.

The company has a market capitalization of $2.40 billion, a PE ratio of 56.90 and a beta of 0.54. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 2.80. The firm has a 50-day moving average of $23.22 and a two-hundred day moving average of $21.16.

Atlantica Yield (NASDAQ:AY) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.22). The business had revenue of $283.34 million during the quarter. Atlantica Yield had a negative return on equity of 0.40% and a negative net margin of 0.68%. On average, equities research analysts expect that Atlantica Yield PLC will post 0.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.69%. This is a positive change from Atlantica Yield’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, August 29th. Atlantica Yield’s dividend payout ratio is presently 371.43%.

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Atlantica Yield by 10.7% during the second quarter. Royal Bank of Canada now owns 31,631 shares of the utilities provider’s stock worth $717,000 after purchasing an additional 3,061 shares during the last quarter. OneAscent Financial Services LLC purchased a new position in shares of Atlantica Yield during the second quarter worth about $317,000. Victory Capital Management Inc. purchased a new position in shares of Atlantica Yield during the second quarter worth about $9,305,000. Cubist Systematic Strategies LLC purchased a new position in shares of Atlantica Yield during the second quarter worth about $523,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Atlantica Yield during the second quarter worth about $405,000. Institutional investors own 47.44% of the company’s stock.

Atlantica Yield Company Profile (NASDAQ:AY)

Atlantica Yield plc acquires, owns, and manages renewable energy, natural gas power, electric transmission lines, and water assets in the United States, Mexico, Peru, Chile, Uruguay, Spain, Algeria, and South Africa. As of December 31, 2018, it had 24 assets, including 1,496 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,152 miles of electric transmission lines; and water desalination plants with an aggregate capacity of 10.5 million cubic feet per day.

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