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

Atlantica Sustainable Infrastructure (NASDAQ:AY) issued its quarterly earnings results on Wednesday. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07, Zacks reports. The company had revenue of $242.93 million for the quarter, compared to the consensus estimate of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same quarter in the prior year, the business earned ($0.09) EPS.

Atlantica Sustainable Infrastructure Stock Up 2.7 %

AY stock opened at $22.25 on Friday. The stock has a market capitalization of $2.58 billion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The company has a fifty day moving average of $18.76 and a 200-day moving average of $19.22. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $26.95.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.445 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.78 dividend on an annualized basis and a yield of 8.00%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 423.81%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. StockNews.com upgraded Atlantica Sustainable Infrastructure from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada reduced their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. BMO Capital Markets dropped their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 5th. Finally, Bank of America cut their price target on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and an average price target of $22.75.

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.