Atlantica Yield (AY) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Atlantica Yield (NASDAQ:AY) from a hold rating to a buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Atlantica Yield from a buy rating to a hold rating in a research report on Tuesday, January 15th. Raymond James reaffirmed an outperform rating and set a $27.50 price objective on shares of Atlantica Yield in a research report on Tuesday, February 26th. Finally, Zacks Investment Research downgraded shares of Atlantica Yield from a buy rating to a hold rating in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $24.70.

Shares of Atlantica Yield stock traded up $0.05 during trading on Tuesday, hitting $21.05. The stock had a trading volume of 1,170 shares, compared to its average volume of 322,661. The company has a market cap of $2.11 billion, a P/E ratio of 50.12 and a beta of 0.65. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.55 and a quick ratio of 1.50. Atlantica Yield has a 1 year low of $17.50 and a 1 year high of $21.27.

Atlantica Yield (NASDAQ:AY) last released its earnings results on Thursday, February 28th. The utilities provider reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.47). The firm had revenue of $206.90 million during the quarter, compared to analysts’ expectations of $248.73 million. Atlantica Yield had a return on equity of 2.08% and a net margin of 3.60%. On average, analysts expect that Atlantica Yield will post 1.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.39 dividend. The ex-dividend date is Friday, May 31st. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 7.41%. Atlantica Yield’s payout ratio is 352.38%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in shares of Atlantica Yield in the fourth quarter worth $30,000. Nisa Investment Advisors LLC acquired a new stake in shares of Atlantica Yield in the fourth quarter worth $33,000. Advisor Group Inc. lifted its stake in shares of Atlantica Yield by 224.0% in the first quarter. Advisor Group Inc. now owns 2,495 shares of the utilities provider’s stock worth $50,000 after buying an additional 1,725 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Atlantica Yield in the first quarter worth $50,000. Finally, Kore Private Wealth LLC acquired a new stake in shares of Atlantica Yield in the first quarter worth $91,000. Hedge funds and other institutional investors own 50.47% of the company’s stock.

Atlantica Yield Company Profile

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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Analyst Recommendations for Atlantica Yield (NASDAQ:AY)

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