Analysts Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Price Target at $23.67

Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Free Report) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.67.

Several equities analysts have commented on the stock. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their target price for the company from $19.00 to $25.00 in a report on Friday, March 22nd. Royal Bank of Canada decreased their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. BMO Capital Markets decreased their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, March 5th. Finally, Bank of America decreased their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th.

View Our Latest Stock Report on Atlantica Sustainable Infrastructure

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AY. Lazard Asset Management LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth approximately $24,218,000. Norges Bank acquired a new position in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at $15,487,000. Invesco Ltd. lifted its position in shares of Atlantica Sustainable Infrastructure by 23.9% during the 1st quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock valued at $109,577,000 after acquiring an additional 601,826 shares during the period. Millennium Management LLC lifted its position in shares of Atlantica Sustainable Infrastructure by 200.4% during the 4th quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock valued at $19,270,000 after acquiring an additional 496,383 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at $7,637,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ AY opened at $18.48 on Friday. The firm has a 50-day moving average of $18.43 and a 200-day moving average of $19.18. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. The stock has a market cap of $2.14 billion, a PE ratio of 44.00 and a beta of 0.97. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $29.81.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last issued its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The business had revenue of $241.31 million during the quarter, compared to analysts’ expectations of $243.81 million. During the same quarter in the previous year, the company earned $0.03 EPS. On average, sell-side analysts anticipate that Atlantica Sustainable Infrastructure will post 0.49 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were given a $0.445 dividend. The ex-dividend date was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.63%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 423.82%.

About Atlantica Sustainable Infrastructure

(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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Analyst Recommendations for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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