First Quarter 2024 Earnings Estimate for Atlantica Sustainable Infrastructure plc issued by Raymond James (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Free Report) – Raymond James raised its first-quarter 2024 EPS estimates for shares of Atlantica Sustainable Infrastructure in a research note issued to investors on Thursday, April 25. Raymond James analyst D. Quezada now predicts the energy provider will earn ($0.11) per share this quarter, up from their previous estimate of ($0.13). The consensus estimate for Atlantica Sustainable Infrastructure’s current full-year earnings is $0.53 per share. Raymond James also released estimates for Atlantica Sustainable Infrastructure’s fourth-quarter 2024 earnings of ($0.05) EPS, fiscal 2024 earnings of $0.44 EPS, first-quarter earnings of 2025 earnings of $0.16 earnings per share, third quarter 2025 earnings of $0.16 earnings per share and fourth quarter 2025 earnings of ($0.07) earnings per share.

Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Free Report) posted its latest earnings results on Friday, March 1. The utility reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. During the same period last year, the company posted earnings per share of $0.03.

A number of other research analysts have also issued reports on the stock. Bank of America lowered their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26. Royal Bank of Canada lowered their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. BMO Capital Markets lowered their price target 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. Finally, National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of ‘Hold’ and a consensus price target of $23.67.

Check out our latest research report on AY

Stock performance of Atlantica Sustainable Infrastructure

NASDAQ:AY opened at $20.00 on Monday. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $26.95. The company’s fifty day simple moving average is $18.27 and its 200 day simple moving average is $19.01. 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 company has a market cap of $2.32 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 1.10, and a beta of 0.97.

Hedge funds weigh in on Atlantica’s sustainable infrastructure

Several institutional investors have recently increased or decreased their stakes in AY. Robeco Institutional Asset Management BV acquired a new stake in Atlantica Sustainable Infrastructure in the fourth quarter worth approximately $27,000. Rational Advisors LLC grew its position in Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utility’s stock valued at $36,000 after acquiring an additional 1,025 shares in the last quarter. Riverview Trust Co acquired a new stake in Atlantica Sustainable Infrastructure in the first quarter worth approximately $42,000. IFP Advisors Inc grew its position in Atlantica Sustainable Infrastructure by 37.1% in the third quarter. IFP Advisors Inc now owns 2,578 shares of the utility company’s stock valued at $49,000 after acquiring an additional 698 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure during the 3rd quarter worth approximately $50,000. 40.53% of the shares are held by institutional investors.

Dividend announcement from Atlantica Sustainable Infrastructure

The company also recently declared a quarterly dividend, which was paid on Friday, March 22. Well-known investors received a dividend of $0.445 per share on Tuesday, March 12. This represents an annualized dividend of $1.78 and a yield of 8.90%. The ex-dividend date was Monday, March 11. Atlantica Sustainable Infrastructure’s dividend payout ratio currently stands at 423.82%.

About Atlantica Sustainable Infrastructure

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Atlantica Sustainable Infrastructure plc owns, operates and invests in renewable energy, storage, natural gas and heat, electrical transmission lines and water utilities in North America, South America, Europe, the Middle East and Africa. The company was previously called Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.

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