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Atlantica Sustainable Infrastructure PLC (AY) - free report >>
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Atlantica Sustainable Infrastructure PLC (AY) - free report >>
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Atlantica Sustainable Infrastructure (AY) Moves 5.1% Higher: Will This Strength Last?
Atlantica Sustainable Infrastructure (AY - Free Report) shares rallied 5.1% in the last trading session to close at $17.65. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.1% loss over the past four weeks.
Atlantica Sustainable Infrastructure recently got a “Moderate Buy” rating from six research firms, as per a few media sources. This must have boosted investors’ confidence in this stock, thereby resulting in the latest uptick in AY’s share price.
This owner of electric power assets is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of +363.6%. Revenues are expected to be $329.96 million, up 8.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Atlantica Sustainable Infrastructure, the consensus EPS estimate for the quarter has been revised 60.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Atlantica Sustainable Infrastructure belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Brookfield Renewable Corporation (BEPC - Free Report) , closed the last trading session 0.9% higher at $22.95. Over the past month, BEPC has returned -12.3%.
For Brookfield Renewable Corporation, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. This represents a change of +52% from what the company reported a year ago. Brookfield Renewable Corporation currently has a Zacks Rank of #2 (Buy).