Atlantica Yield PLC (AY) Receives $25.75 Average Price Target from Analysts

Atlantica Yield PLC (NASDAQ:AY) has received an average rating of “Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $25.75.

A number of equities research analysts recently issued reports on AY shares. BidaskClub cut shares of Atlantica Yield from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $24.00 target price on shares of Atlantica Yield in a research report on Tuesday, July 24th. Zacks Investment Research cut shares of Atlantica Yield from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Raymond James started coverage on shares of Atlantica Yield in a research report on Wednesday, June 20th. They set an “outperform” rating and a $26.00 target price for the company. Finally, Bank of America increased their target price on shares of Atlantica Yield from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th.

Shares of AY stock traded down $0.38 during mid-day trading on Thursday, reaching $20.37. The company’s stock had a trading volume of 224,500 shares, compared to its average volume of 323,519. Atlantica Yield has a 1-year low of $18.00 and a 1-year high of $25.99. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -113.11 and a beta of 0.97. The company has a debt-to-equity ratio of 2.99, a quick ratio of 2.47 and a current ratio of 2.51.

Atlantica Yield (NASDAQ:AY) last announced its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.44. Atlantica Yield had a negative net margin of 5.50% and a positive return on equity of 1.95%. The company had revenue of $287.85 million during the quarter. sell-side analysts predict that Atlantica Yield will post 0.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Friday, August 31st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.68%. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.32. Atlantica Yield’s dividend payout ratio (DPR) is -711.11%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Atria Investments LLC increased its position 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. Element Capital Management LLC acquired a new stake in Atlantica Yield in the 1st quarter valued at about $381,000. Highbridge Capital Management LLC acquired a new stake in Atlantica Yield in the 1st quarter valued at about $542,000. SG Americas Securities LLC increased its position in Atlantica Yield by 147.1% in the 1st quarter. SG Americas Securities LLC now owns 33,947 shares of the utilities provider’s stock valued at $665,000 after acquiring an additional 105,962 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in Atlantica Yield in the 1st quarter valued at about $797,000. Hedge funds and other institutional investors own 52.63% 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 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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