Atlantica Sustainable Infrastructure (NASDAQ:AY) Announces Quarterly Earnings Results

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

Atlantica Sustainable Infrastructure Trading Up 0.0 %

Atlantica Sustainable Infrastructure stock traded up $0.01 during midday trading on Friday, reaching $22.15. The stock 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 stock has a market capitalization of $2.57 billion, a PE ratio of 48.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. The stock’s 50-day simple moving average is $22.06 and its 200 day simple moving average is $20.26.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced 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. 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%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BMO Capital Markets upped 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. StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research report on Friday. They set a “sell” rating for the company. National Bankshares upped their price objective on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 28th. UBS Group cut Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, May 30th. Finally, Seaport Res Ptn cut Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.