Shares of Atlas Corp. (NYSE:ATCO) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.40.
Several brokerages have weighed in on ATCO. Citigroup began coverage on Atlas in a report on Wednesday, October 6th. They issued a “neutral” rating and a $16.00 price target for the company. Zacks Investment Research downgraded Atlas from a “buy” rating to a “hold” rating in a report on Friday, August 20th.
Several institutional investors have recently added to or reduced their stakes in ATCO. Morgan Stanley raised its position in Atlas by 15.8% during the second quarter. Morgan Stanley now owns 3,078,041 shares of the company’s stock valued at $43,862,000 after acquiring an additional 420,550 shares in the last quarter. Bank of Montreal Can increased its position in shares of Atlas by 15.9% during the second quarter. Bank of Montreal Can now owns 2,035,949 shares of the company’s stock worth $28,035,000 after purchasing an additional 279,703 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Atlas by 62.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,537,069 shares of the company’s stock worth $20,981,000 after purchasing an additional 589,508 shares in the last quarter. Royal Bank of Canada increased its position in shares of Atlas by 32.0% during the first quarter. Royal Bank of Canada now owns 1,238,519 shares of the company’s stock worth $16,906,000 after purchasing an additional 300,528 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Atlas by 670.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,226,349 shares of the company’s stock worth $17,475,000 after purchasing an additional 1,067,247 shares in the last quarter. 56.53% of the stock is owned by hedge funds and other institutional investors.
Atlas (NYSE:ATCO) last posted its earnings results on Sunday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. Atlas had a return on equity of 10.28% and a net margin of 14.62%. The company had revenue of $393.90 million for the quarter, compared to analyst estimates of $387.81 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts expect that Atlas will post 1.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Wednesday, October 20th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, October 19th. Atlas’s dividend payout ratio (DPR) is 51.55%.
Atlas Corp. operates as a global asset manager that owns and operates the businesses in which it invests. It focuses on deploying capital across multiple verticals to create growth opportunities for its shareholders. The firm operates through two subsidiaries, Seaspan and APR. Seaspan is an independent charter owner and operator of containerships and APR provides mobile power solutions.
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