Atlantica Sustainable Infrastructure (NASDAQ:AY) Announces Earnings Results, Misses Estimates By $0.06 EPS

Atlantica Sustainable Infrastructure (NASDAQ:AY) posted its quarterly earnings data on Thursday. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06), Zacks reports. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.50%. The business had revenue of $328.26 million for the quarter, compared to analysts’ expectations of $315.07 million.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY traded up $0.01 during midday trading on Friday, hitting $22.15. The company had a trading volume of 783,144 shares, compared to its average volume of 941,688. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $23.57. 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 stock has a market cap of $2.57 billion, a price-to-earnings ratio of 48.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The business’s 50-day simple moving average is $22.06 and its 200-day simple moving average is $20.26.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.78 annualized dividend and a dividend yield of 8.04%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 386.96%.

Wall Street Analysts Forecast Growth

AY has been the topic of several recent analyst reports. Seaport Res Ptn lowered Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. National Bankshares upped their target price on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 28th. StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research report on Friday. They set a “sell” rating on the stock. UBS Group downgraded Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. Finally, BMO Capital Markets boosted their price target on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Company Profile

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.