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

Atlantica Sustainable Infrastructure (NASDAQ:AY) released its earnings results on Wednesday. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07, Zacks reports. The firm had revenue of $242.93 million during the quarter, compared to the consensus estimate of $240.87 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same period in the previous year, the firm earned ($0.09) earnings per share.

Atlantica Sustainable Infrastructure Price Performance

NASDAQ:AY traded up $0.59 during trading hours on Thursday, reaching $22.25. 1,987,759 shares of the company’s stock were exchanged, compared to its average volume of 1,122,696. The company has a market capitalization of $2.58 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. 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 business’s 50-day simple moving average is $18.68 and its two-hundred day simple moving average is $19.20. Atlantica Sustainable Infrastructure has a 12 month low of $16.35 and a 12 month high of $26.95.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.445 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.00%. Atlantica Sustainable Infrastructure’s payout ratio is currently 423.81%.

Analyst Ratings Changes

AY has been the subject of a number of research reports. Bank of America decreased their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Royal Bank of Canada cut their target price 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 downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price objective 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 assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.75.

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.