BidaskClub Upgrades Atlantica Yield (AY) to Hold

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Atlantica Yield (NASDAQ:AY) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently issued reports on AY. Zacks Investment Research upgraded Atlantica Yield from a “sell” rating to a “hold” rating in a report on Monday, December 3rd. ValuEngine downgraded Atlantica Yield from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Raymond James increased their price objective on Atlantica Yield from $26.00 to $27.50 and gave the stock an “outperform” rating in a report on Tuesday, November 6th. Finally, Deutsche Bank began coverage on Atlantica Yield in a report on Friday, September 28th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.50.

Shares of Atlantica Yield stock opened at $19.79 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.61 and a debt-to-equity ratio of 2.92. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -109.94 and a beta of 0.92. Atlantica Yield has a 1 year low of $18.00 and a 1 year high of $22.02.

Atlantica Yield (NASDAQ:AY) last posted its quarterly earnings data on Monday, November 5th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.08. The business had revenue of $323.81 million during the quarter, compared to the consensus estimate of $297.91 million. Atlantica Yield had a positive return on equity of 3.21% and a negative net margin of 3.17%. On average, research analysts predict that Atlantica Yield will post 0.87 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Morgan Stanley bought a new position in Atlantica Yield in the third quarter valued at approximately $201,652,000. Vaughan Nelson Investment Management L.P. bought a new position in Atlantica Yield in the third quarter valued at approximately $55,840,000. Acadian Asset Management LLC grew its stake in Atlantica Yield by 19.7% in the third quarter. Acadian Asset Management LLC now owns 1,490,728 shares of the utilities provider’s stock valued at $30,680,000 after purchasing an additional 244,988 shares in the last quarter. Diameter Capital Partners LP bought a new position in Atlantica Yield in the third quarter valued at approximately $27,371,000. Finally, Kayne Anderson Capital Advisors LP bought a new position in Atlantica Yield in the third quarter valued at approximately $27,239,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

About Atlantica Yield

Atlantica Yield plc acquires, owns, and manages renewable energy natural gas, power, electric transmission lines, and water assets in North America, South America, Spain, Algeria, and South Africa. As of December 31, 2017, it had 22 assets, including 1,446 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,099 miles of electric transmission lines; and desalination plants with an aggregate capacity of 10.5 million cubic feet per day.

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Analyst Recommendations for Atlantica Yield (NASDAQ:AY)

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