Raymond James Reaffirms “Outperform” Rating for Atlantica Yield (NASDAQ:AY)

Raymond James restated their outperform rating on shares of Atlantica Yield (NASDAQ:AY) in a research note released on Thursday, BayStreet.CA reports. They currently have a $27.00 price target on the utilities provider’s stock.

AY has been the topic of a number of other reports. ValuEngine upgraded Atlantica Yield from a hold rating to a buy rating in a research note on Thursday, May 23rd. Citigroup boosted their price objective on Atlantica Yield from $22.00 to $27.00 and gave the company a buy rating in a research note on Monday, July 29th. Zacks Investment Research upgraded Atlantica Yield from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research note on Thursday, July 25th. Finally, BidaskClub upgraded Atlantica Yield from a buy rating to a strong-buy rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Atlantica Yield currently has an average rating of Buy and an average price target of $26.67.

Shares of NASDAQ:AY traded down $0.02 during midday trading on Thursday, reaching $23.47. The company had a trading volume of 293,969 shares, compared to its average volume of 266,927. Atlantica Yield has a 52-week low of $17.50 and a 52-week high of $23.58. The stock has a 50 day simple moving average of $23.06. The stock has a market capitalization of $2.35 billion, a PE ratio of 55.88 and a beta of 0.54. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.52 and a current ratio of 1.16.

Atlantica Yield (NASDAQ:AY) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $283.34 million during the quarter. On average, equities research analysts forecast that Atlantica Yield will post 0.78 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in AY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Atlantica Yield in the second quarter worth approximately $54,000. Quantamental Technologies LLC purchased a new stake in Atlantica Yield in the first quarter worth approximately $117,000. Osborn Williams & Donohoe LLC purchased a new stake in Atlantica Yield in the first quarter worth approximately $124,000. Fox Run Management L.L.C. purchased a new stake in Atlantica Yield in the second quarter worth approximately $202,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Atlantica Yield in the first quarter worth approximately $207,000. Hedge funds and other institutional investors own 46.07% 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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