Atlantica Sustainable Infrastructure (NASDAQ:AY) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a report issued on Thursday morning. The brokerage issued a sell rating on the utilities provider’s stock.

A number of other equities research analysts also recently commented on AY. Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. UBS Group cut Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday, May 30th. Finally, National Bankshares increased their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a sector perform rating in a report 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 stock. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has an average rating of Hold and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $21.97 on Thursday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35. The business’s fifty day moving average price is $22.04 and its two-hundred day moving average price is $21.05. The stock has a market cap of $2.55 billion, a PE ratio of 47.76, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $23.47.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. The company had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. On average, analysts forecast that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.10%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds have recently made changes to their positions in AY. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at approximately $30,000. Riverview Trust Co purchased a new stake in shares of Atlantica Sustainable Infrastructure during the first quarter valued at approximately $42,000. Headlands Technologies LLC lifted its position in shares of Atlantica Sustainable Infrastructure by 499.4% during the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 3,411 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Atlantica Sustainable Infrastructure by 12.8% in the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,064 shares during the period. Hedge funds and other institutional investors own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

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.