Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Given Consensus Recommendation of “Hold” by Analysts

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned an average rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $23.67.

A number of equities research analysts have recently issued reports on AY shares. StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. BMO Capital Markets cut their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, March 5th. Finally, Bank of America decreased their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in Atlantica Sustainable Infrastructure in the 3rd quarter valued at about $24,218,000. Norges Bank purchased a new stake in Atlantica Sustainable Infrastructure in the fourth quarter valued at approximately $15,487,000. Westwood Holdings Group Inc. increased its position in Atlantica Sustainable Infrastructure by 140.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock worth $9,642,000 after purchasing an additional 261,825 shares during the last quarter. Advisors Capital Management LLC raised its stake in 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 period. Finally, Tritonpoint Wealth LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at $4,007,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $19.95 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14. The stock’s 50 day moving average is $18.28 and its two-hundred day moving average is $19.02. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $26.95. The firm has a market capitalization of $2.32 billion, a PE ratio of 47.50, a P/E/G ratio of 1.02 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.25. The firm had revenue of $241.31 million for the quarter, compared to the consensus estimate of $243.81 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period in the previous year, the business earned $0.03 earnings per share. Research analysts anticipate that Atlantica Sustainable Infrastructure will post 0.53 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.92%. The ex-dividend date was Monday, March 11th. 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.