BidaskClub Downgrades Atlantica Yield PLC (ABY) to Sell

Atlantica Yield PLC (NASDAQ:ABY) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other analysts have also issued reports on ABY. Guggenheim upgraded Atlantica Yield PLC from a “neutral” rating to a “buy” rating and lifted their price target for the company from $22.35 to $23.00 in a research report on Tuesday, February 28th. Zacks Investment Research cut Atlantica Yield PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Jefferies Group LLC initiated coverage on Atlantica Yield PLC in a research report on Wednesday, April 12th. They issued a “hold” rating and a $22.00 price target for the company. ValuEngine upgraded Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, TheStreet upgraded Atlantica Yield PLC from a “d” rating to a “c-” rating in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $22.75.

Atlantica Yield PLC (ABY) traded down 0.89% during midday trading on Wednesday, reaching $20.10. The company had a trading volume of 456,874 shares. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 213.83 and a beta of 1.12. Atlantica Yield PLC has a 12-month low of $16.18 and a 12-month high of $22.87. The stock’s 50 day moving average is $20.44 and its 200 day moving average is $20.49.

Atlantica Yield PLC (NASDAQ:ABY) last issued its quarterly earnings results on Monday, May 15th. The utilities provider reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.07. The business had revenue of $198.15 million for the quarter, compared to analyst estimates of $208 million. Atlantica Yield PLC had a return on equity of 0.48% and a net margin of 0.97%. Equities research analysts expect that Atlantica Yield PLC will post $0.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, May 26th. Atlantica Yield PLC’s payout ratio is currently 1,111.11%.

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Several large investors have recently added to or reduced their stakes in ABY. State Street Corp raised its stake in Atlantica Yield PLC by 4.9% in the fourth quarter. State Street Corp now owns 984,106 shares of the utilities provider’s stock worth $19,044,000 after buying an additional 45,803 shares during the period. Van ECK Associates Corp raised its stake in Atlantica Yield PLC by 10.1% in the fourth quarter. Van ECK Associates Corp now owns 37,213 shares of the utilities provider’s stock worth $720,000 after buying an additional 3,423 shares during the period. Pacad Investment Ltd. bought a new stake in Atlantica Yield PLC during the fourth quarter worth $201,000. GSA Capital Partners LLP bought a new stake in Atlantica Yield PLC during the fourth quarter worth $526,000. Finally, Two Sigma Investments LP bought a new stake in Atlantica Yield PLC during the fourth quarter worth $425,000. 54.42% of the stock is owned by institutional investors.

About Atlantica Yield PLC

Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).

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