Atlantica Sustainable Infrastructure (NASDAQ:AY) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Atlantica Sustainable Infrastructure (NASDAQ:AYFree Report) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

A number of other research firms also recently issued reports on AY. BMO Capital Markets raised their price target on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a research note on Friday, May 10th. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a report on Wednesday, April 3rd. Bank of America lowered their price objective on shares of 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. Royal Bank of Canada reduced their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating for the company in a report on Monday, March 4th. Finally, UBS Group raised Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and raised their price target for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $23.13.

Check Out Our Latest Report on AY

Atlantica Sustainable Infrastructure Trading Down 2.3 %

Shares of AY stock traded down $0.54 on Friday, hitting $22.63. The stock had a trading volume of 741,624 shares, compared to its average volume of 2,114,538. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. The firm has a market capitalization of $2.63 billion, a P/E ratio of 49.20, a P/E/G ratio of 1.53 and a beta of 0.94. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $25.93. The company’s 50 day moving average price is $19.34 and its 200-day moving average price is $19.43.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same quarter last year, the business posted ($0.09) EPS. Analysts anticipate that Atlantica Sustainable Infrastructure will post 0.41 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend is Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 386.96%.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of institutional investors have recently modified their holdings of AY. Rational Advisors LLC lifted its position in Atlantica Sustainable Infrastructure by 113.8% during the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,025 shares in the last quarter. Riverview Trust Co acquired a new position in Atlantica Sustainable Infrastructure during the 1st quarter worth approximately $42,000. Clear Street Markets LLC acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth approximately $50,000. Clean Yield Group lifted its position in Atlantica Sustainable Infrastructure by 71.4% during the 4th quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Covestor Ltd acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

(Get Free Report)

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.

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