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 research note released on Tuesday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Several other brokerages have also recently commented on AY. BMO Capital Markets boosted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a research report on Friday, May 10th. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. UBS Group downgraded Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and cut their price objective for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. Bank of America cut their price objective on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a buy rating on the stock in a report on Tuesday, March 26th. Finally, National Bankshares boosted their price objective on 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 a consensus rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $22.05 on Tuesday. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $25.22. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. The firm has a fifty day moving average of $22.18 and a 200-day moving average of $20.15.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $242.93 million during the quarter, compared to the consensus estimate of $240.87 million. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. During the same quarter in the prior year, the company posted ($0.09) earnings per share. As a group, equities analysts anticipate that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.78 dividend on an annualized basis and a yield of 8.07%. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rational Advisors LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Atlantica Sustainable Infrastructure in the first quarter valued at $42,000. Clean Yield Group raised its stake in shares of Atlantica Sustainable Infrastructure by 71.4% in the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 2,500 shares in the last quarter. Covestor Ltd raised 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 in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the first quarter valued at $196,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

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.