Atlantica Yield PLC (NASDAQ:AY) – Equities researchers at Raymond James upped their Q3 2019 earnings estimates for Atlantica Yield in a report issued on Thursday, August 8th. Raymond James analyst D. Quezada now forecasts that the utilities provider will post earnings per share of $0.68 for the quarter, up from their prior forecast of $0.59. Raymond James currently has a “Outperform” rating and a $27.00 price target on the stock. Raymond James also issued estimates for Atlantica Yield’s FY2019 earnings at $0.67 EPS.
Atlantica Yield (NASDAQ:AY) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.22). Atlantica Yield had a negative net margin of 0.68% and a negative return on equity of 0.40%. The business had revenue of $283.34 million for the quarter.
AY has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. ValuEngine raised shares of Atlantica Yield from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. BidaskClub raised shares of Atlantica Yield from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Citigroup increased their price target on shares of Atlantica Yield from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Atlantica Yield has an average rating of “Buy” and a consensus price target of $26.67.
Shares of Atlantica Yield stock opened at $23.61 on Monday. Atlantica Yield has a 12-month low of $17.50 and a 12-month high of $23.74. The stock has a market capitalization of $2.35 billion, a P/E ratio of 56.21 and a beta of 0.54. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a 50-day moving average price of $23.07.
Several institutional investors have recently modified their holdings of AY. Norges Bank bought a new position in shares of Atlantica Yield in the fourth quarter worth approximately $34,388,000. FMR LLC bought a new position in shares of Atlantica Yield in the first quarter worth approximately $26,976,000. Acadian Asset Management LLC grew its holdings in shares of Atlantica Yield by 36.1% in the second quarter. Acadian Asset Management LLC now owns 2,656,922 shares of the utilities provider’s stock worth $60,234,000 after purchasing an additional 704,789 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Atlantica Yield by 1,294.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 664,443 shares of the utilities provider’s stock worth $15,059,000 after purchasing an additional 616,800 shares during the last quarter. Finally, Apollo Management Holdings L.P. bought a new position in shares of Atlantica Yield in the first quarter worth approximately $11,326,000. Hedge funds and other institutional investors own 46.14% 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 the United States, Mexico, Peru, Chile, Uruguay, Spain, Algeria, and South Africa. As of December 31, 2018, it had 24 assets, including 1,496 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; 1,152 miles of electric transmission lines; and water desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
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