Atlantica Sustainable Infrastructure (NASDAQ:AY) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Atlantica Sustainable Infrastructure (NASDAQ:AY) announced its quarterly earnings data on Wednesday. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07, Zacks reports. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The business had revenue of $242.93 million during the quarter, compared to the consensus estimate of $240.87 million. During the same period in the prior year, the company earned ($0.09) EPS.

Atlantica Sustainable Infrastructure Trading Up 1.3 %

AY traded up $0.29 during midday trading on Thursday, reaching $21.95. 1,388,250 shares of the company were exchanged, compared to its average volume of 1,118,640. The stock’s 50-day simple moving average is $18.68 and its 200 day simple moving average is $19.20. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $26.95. The stock has a market capitalization of $2.55 billion, a P/E ratio of 52.10, a PEG ratio of 1.10 and a beta of 0.94. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm 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 dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend is Friday, May 31st. Atlantica Sustainable Infrastructure’s payout ratio is presently 423.81%.

Analyst Upgrades and Downgrades

AY has been the topic of a number of recent research reports. 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 lowered their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, March 5th. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price target for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. Royal Bank of Canada lowered their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Finally, StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.