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

Atlantica Sustainable Infrastructure (NASDAQ:AY) issued its earnings results 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. The business had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.50%.

Atlantica Sustainable Infrastructure Trading Up 0.0 %

Shares of AY opened at $22.15 on Friday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $23.57. The firm has a 50 day moving average price of $22.06 and a 200-day moving average price of $20.26. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 1.32 and a beta of 1.02.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 8.04%. The ex-dividend date of this dividend is Friday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AY. UBS Group downgraded Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $22.00 in a research note on Thursday, May 30th. StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research report on Friday. They issued a “sell” rating for the company. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. BMO Capital Markets increased their price objective on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Finally, National Bankshares upped their target price on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.