Atlantica Yield (NASDAQ:AY) Cut to “Buy” at BidaskClub

Atlantica Yield (NASDAQ:AY) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

A number of other equities analysts also recently issued reports on AY. Zacks Investment Research downgraded Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Monday, March 18th. Raymond James cut their target price on Atlantica Yield from $27.50 to $25.50 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, ValuEngine raised Atlantica Yield from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $24.70.

Atlantica Yield stock opened at $22.21 on Wednesday. Atlantica Yield has a twelve month low of $17.50 and a twelve month high of $22.41. The company has a quick ratio of 1.52, a current ratio of 1.55 and a debt-to-equity ratio of 3.12. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 52.88 and a beta of 0.53.

Atlantica Yield (NASDAQ:AY) last posted its quarterly earnings data on Friday, May 10th. The utilities provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). Atlantica Yield had a return on equity of 2.08% and a net margin of 3.60%. The company had revenue of $221.45 million for the quarter, compared to analyst estimates of $236.80 million. As a group, research analysts forecast that Atlantica Yield will post 1.07 EPS for the current year.

Hedge funds have recently modified their holdings of the company. FMR LLC purchased a new position in Atlantica Yield in the 1st quarter valued at approximately $26,976,000. Kore Private Wealth LLC purchased a new position in Atlantica Yield in the 1st quarter valued at approximately $91,000. Bramshill Investments LLC purchased a new position in Atlantica Yield in the 1st quarter valued at approximately $818,000. Morgan Stanley increased its stake in Atlantica Yield by 4.1% in the 1st quarter. Morgan Stanley now owns 11,418,896 shares of the utilities provider’s stock valued at $222,211,000 after purchasing an additional 454,142 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Atlantica Yield in the 1st quarter valued at approximately $1,168,000. 45.50% of the stock is owned by institutional investors and hedge funds.

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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