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

Altus Power (NYSE:AMPS) is set to release its earnings data after the market closes on Thursday, May 9th. Analysts expect Altus Power to post earnings of ($0.06) per share for the quarter. Altus Power has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. The business had revenue of $34.19 million during the quarter, compared to the consensus estimate of $42.85 million. 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 Price Performance

Shares of NYSE:AMPS opened at $4.53 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.33. The firm has a 50-day simple moving average of $4.84 and a 200 day simple moving average of $5.48. Altus Power has a fifty-two week low of $3.40 and a fifty-two week high of $7.28. The company has a market cap of $720.63 million, a PE ratio of -64.71 and a beta of 0.98.

Analyst Ratings Changes

AMPS has been the topic of a number of research reports. Maxim Group initiated coverage on Altus Power in a research report on Wednesday, April 10th. They set a “buy” rating and a $7.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Altus Power in a report on Tuesday, April 30th. B. Riley reduced their target price on shares of Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $9.00 price target on shares of Altus Power in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Altus Power currently has a consensus rating of “Buy” and a consensus target price of $8.25.

Insider Activity at Altus Power

In other news, insider Anthony Savino sold 34,725 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the sale, the insider now owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total value of $243,769.50. Following the transaction, the insider now owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg J. Felton bought 12,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average cost of $4.78 per share, with a total value of $59,750.00. Following the completion of the purchase, the chief executive officer now owns 11,894,603 shares of the company’s stock, valued at $56,856,202.34. The disclosure for this purchase can be found here. Insiders have sold 43,673 shares of company stock worth $307,748 over the last quarter. 24.30% of the stock is currently owned by company insiders.

Altus Power Company Profile

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.