Atlantica Yield (AY) Rating Lowered to Sell at BidaskClub

Atlantica Yield (NASDAQ:AY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other brokerages have also recently commented on AY. Bank of America raised their target price on Atlantica Yield from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Deutsche Bank started coverage on Atlantica Yield in a research report on Friday, September 28th. They issued a “buy” rating for the company. ValuEngine raised Atlantica Yield from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Raymond James raised their target price on Atlantica Yield from $26.00 to $27.50 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Zacks Investment Research cut Atlantica Yield from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.50.

AY opened at $20.83 on Wednesday. The firm has a market cap of $2.02 billion, a PE ratio of 33.58 and a beta of 0.91. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.61 and a quick ratio of 2.47. Atlantica Yield has a fifty-two week low of $18.00 and a fifty-two week high of $25.99.

Atlantica Yield (NASDAQ:AY) last released its quarterly earnings data on Monday, November 5th. The utilities provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.08. The business had revenue of $323.81 million during the quarter, compared to analyst estimates of $297.91 million. Atlantica Yield had a positive return on equity of 3.21% and a negative net margin of 3.17%. Equities research analysts forecast that Atlantica Yield will post 0.8 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Atria Investments LLC boosted its position in Atlantica Yield by 31.9% during the second quarter. Atria Investments LLC now owns 17,047 shares of the utilities provider’s stock valued at $344,000 after purchasing an additional 4,124 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Atlantica Yield during the third quarter valued at $723,000. Engineers Gate Manager LP acquired a new stake in Atlantica Yield during the third quarter valued at $773,000. Northern Trust Corp boosted its position in Atlantica Yield by 8.6% during the first 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 last quarter. Finally, C WorldWide Group Holding A S acquired a new stake in Atlantica Yield during the third quarter valued at $1,774,000. 49.27% 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 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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Analyst Recommendations for Atlantica Yield (NASDAQ:AY)

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