Atlantica Sustainable Infrastructure (NASDAQ:AY) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) from a hold rating to a sell rating in a report released on Tuesday.

A number of other equities research analysts have also weighed in on the company. Bank of America reduced their price objective on 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. BMO Capital Markets reduced their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a market perform rating on the stock in a research report on Tuesday, March 5th. Royal Bank of Canada reduced their price target 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. National Bank Financial lowered Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research report on Wednesday, April 3rd. Finally, UBS Group upgraded Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and upped their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $23.67.

Atlantica Sustainable Infrastructure Trading Up 0.2 %

Shares of AY stock opened at $20.00 on Tuesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of 47.62, a P/E/G ratio of 1.12 and a beta of 0.97. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $26.95. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The stock’s fifty day simple moving average is $18.27 and its 200 day simple moving average is $19.01.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. The business had revenue of $241.31 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.03 EPS. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a dividend yield of 8.90%. Atlantica Sustainable Infrastructure’s payout ratio is 423.82%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth approximately $24,218,000. Norges Bank acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter worth approximately $15,487,000. Westwood Holdings Group Inc. raised its stake in Atlantica Sustainable Infrastructure by 140.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock worth $9,642,000 after buying an additional 261,825 shares during the period. Advisors Capital Management LLC raised its stake in Atlantica Sustainable Infrastructure by 32.2% during the 3rd quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock worth $18,916,000 after buying an additional 241,417 shares during the period. Finally, Tritonpoint Wealth LLC acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter worth approximately $4,007,000. Institutional investors own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

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.