Atlantica Yield (AY) Lifted to Hold at Zacks Investment Research

Atlantica Yield (NASDAQ:AY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Atlantica Yield Plc owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. It operates primarily in North America, South America and Europe. Atlantica Yield Plc, formerly known as Abengoa Yield plc, is based in Brentford, the United Kingdom. “

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Several other equities research analysts have also recently weighed in on AY. BidaskClub upgraded shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. Guggenheim set a $27.00 price objective on shares of Atlantica Yield and gave the stock a “buy” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Atlantica Yield has an average rating of “Buy” and a consensus target price of $25.25.

Shares of AY stock traded up $0.58 during trading hours on Tuesday, hitting $20.25. 694,365 shares of the company’s stock traded hands, compared to its average volume of 388,284. The company has a market capitalization of $1,962.25, a P/E ratio of -112.50 and a beta of 0.99. Atlantica Yield has a 12 month low of $18.00 and a 12 month high of $25.99. The company has a debt-to-equity ratio of 3.06, a quick ratio of 2.25 and a current ratio of 2.28.

Atlantica Yield (NASDAQ:AY) last released its quarterly earnings results on Wednesday, March 7th. The utilities provider reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.41). The business had revenue of $233.20 million for the quarter. Atlantica Yield had a negative net margin of 11.09% and a negative return on equity of 0.88%. sell-side analysts forecast that Atlantica Yield will post 0.59 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of AY. Bronfman E.L. Rothschild L.P. acquired a new stake in Atlantica Yield in the fourth quarter worth $166,000. Legal & General Group Plc grew its holdings in Atlantica Yield by 73.2% in the third quarter. Legal & General Group Plc now owns 8,994 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 3,800 shares during the period. Fox Run Management L.L.C. acquired a new stake in Atlantica Yield in the fourth quarter worth $204,000. Advisory Services Network LLC acquired a new stake in Atlantica Yield in the fourth quarter worth $221,000. Finally, Ramsey Quantitative Systems acquired a new stake in Atlantica Yield in the fourth quarter worth $230,000. Institutional investors and hedge funds own 53.64% of the company’s stock.

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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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