FY2024 EPS Estimate for Altus Power Increased by Analyst

Altus Power, Inc. (NYSE:AMPS) – Investment analysts at Roth Capital lifted their FY2024 earnings estimates for shares of Altus Power in a research note issued on Wednesday, November 13th. Roth Capital analyst J. Clare now forecasts that the company will earn $0.12 per share for the year, up from their previous estimate of $0.05. The consensus estimate for Altus Power’s current full-year earnings is $0.08 per share. Roth Capital also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.09) EPS and FY2026 earnings at ($0.11) EPS.

AMPS has been the topic of several other research reports. UBS Group dropped their target price on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Maxim Group dropped their price objective on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Altus Power in a research report on Wednesday, October 16th. Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, Citigroup reduced their price objective on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Altus Power has a consensus rating of “Buy” and an average price target of $5.81.

Altus Power Stock Performance

Shares of AMPS stock opened at $3.85 on Friday. The company’s 50 day moving average is $3.35 and its 200 day moving average is $3.70. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The firm has a market cap of $619.03 million, a price-to-earnings ratio of 17.50 and a beta of 0.94. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28.

Institutional Trading of Altus Power

A number of institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Altus Power by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after purchasing an additional 3,116 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock valued at $142,000 after acquiring an additional 3,709 shares during the period. HTG Investment Advisors Inc. raised its stake in Altus Power by 8.6% in the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock worth $207,000 after acquiring an additional 5,148 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Altus Power by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after acquiring an additional 6,209 shares during the period. Finally, American Century Companies Inc. grew its stake in Altus Power by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock valued at $284,000 after purchasing an additional 9,062 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

About Altus Power

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.