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

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

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY traded up $0.96 during trading hours on Friday, reaching $23.21. 1,340,357 shares of the company’s stock were exchanged, compared to its average volume of 1,131,356. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $26.95. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 54.76, a P/E/G ratio of 1.10 and a beta of 0.94. The company has a 50-day moving average of $18.76 and a 200 day moving average of $19.22. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 423.81%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $19.00 to $25.00 in a research report on Friday, March 22nd. StockNews.com raised shares of Atlantica Sustainable Infrastructure from a “sell” rating to a “hold” rating in a research report on Thursday. Bank of America dropped their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Finally, 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and an average target price of $23.13.

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.