Atlantica Yield (AY) Lowered to “Hold” at ValuEngine

Atlantica Yield (NASDAQ:AY) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other equities analysts have also recently issued research reports about the company. BidaskClub cut Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Zacks Investment Research cut Atlantica Yield from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank assumed coverage on Atlantica Yield in a report on Friday, September 28th. They issued a “buy” rating for the company. Bank of America upped their price target on Atlantica Yield from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 price target on shares of Atlantica Yield in a report on Tuesday, July 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Atlantica Yield presently has an average rating of “Buy” and a consensus target price of $25.20.

Shares of NASDAQ AY traded up $0.02 during trading hours on Thursday, hitting $19.63. 177,943 shares of the company’s stock were exchanged, compared to its average volume of 302,984. Atlantica Yield has a 1-year low of $18.00 and a 1-year high of $25.99. The company has a debt-to-equity ratio of 2.99, a quick ratio of 2.47 and a current ratio of 2.51. The stock has a market capitalization of $1.96 billion, a PE ratio of -109.06 and a beta of 0.97.

Atlantica Yield (NASDAQ:AY) last posted its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.44. Atlantica Yield had a positive return on equity of 1.95% and a negative net margin of 5.50%. The business had revenue of $287.85 million during the quarter. As a group, equities research analysts forecast that Atlantica Yield will post 0.8 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of AY. Atria Investments LLC raised its holdings in Atlantica Yield by 31.9% in the 2nd quarter. Atria Investments LLC now owns 17,047 shares of the utilities provider’s stock valued at $344,000 after acquiring an additional 4,124 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Atlantica Yield in the 3rd quarter valued at approximately $723,000. Engineers Gate Manager LP bought a new stake in shares of Atlantica Yield in the 3rd quarter valued at approximately $773,000. Northern Trust Corp grew its stake in shares of Atlantica Yield by 8.6% in the 1st quarter. Northern Trust Corp now owns 45,736 shares of the utilities provider’s stock valued at $896,000 after purchasing an additional 3,630 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Atlantica Yield by 53.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 51,102 shares of the utilities provider’s stock valued at $1,001,000 after purchasing an additional 17,884 shares during the period. 49.26% of the stock is owned by hedge funds and other institutional investors.

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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