Altus Power (AMPS) Set to Announce Quarterly Earnings on Tuesday

Altus Power (NYSE:AMPS) is set to issue its quarterly earnings data after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. Altus Power has set its FY 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. The company had revenue of $52.46 million for the quarter, compared to analyst estimates of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. On average, analysts expect Altus Power to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Altus Power Trading Down 1.4 %

Shares of AMPS traded down $0.05 during mid-day trading on Tuesday, reaching $3.49. The company’s stock had a trading volume of 343,138 shares, compared to its average volume of 1,058,956. The company’s fifty day moving average price is $3.27 and its two-hundred day moving average price is $3.71. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The stock has a market cap of $561.16 million, a PE ratio of 25.50 and a beta of 0.94.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMPS shares. Maxim Group lowered their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Monday, August 12th. Morgan Stanley downgraded Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Citigroup decreased their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Finally, UBS Group cut their price target on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $5.94.

About Altus Power

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.