Altus Power (AMPS) Scheduled to Post Earnings on Thursday

Altus Power (NYSE:AMPS) will announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Altus Power has set its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Altus Power (NYSE:AMPS) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $34.19 million for the quarter, compared to the consensus estimate of $42.85 million. Altus Power had a negative return on equity of 0.30% and a negative net margin of 6.03%. On average, analysts expect Altus Power to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Altus Power Trading Up 1.6 %

AMPS opened at $4.42 on Tuesday. The stock has a market capitalization of $703.14 million, a P/E ratio of -62.71 and a beta of 0.98. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 2.33. Altus Power has a 12 month low of $3.40 and a 12 month high of $7.28. The firm’s fifty day simple moving average is $4.92 and its 200 day simple moving average is $5.49.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMPS shares. B. Riley reduced their price objective on Altus Power from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Altus Power in a research report on Thursday, April 11th. Maxim Group initiated coverage on Altus Power in a research note on Wednesday, April 10th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Roth Mkm restated a “buy” rating and set a $7.00 price objective on shares of Altus Power in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.25.

Insider Activity

In other Altus Power news, insider Anthony Savino sold 34,725 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $7.02, for a total transaction of $243,769.50. Following the transaction, the insider now directly owns 3,907,536 shares in the company, valued at $27,430,902.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Altus Power news, insider Anthony Savino sold 34,725 shares of Altus Power stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $7.02, for a total value of $243,769.50. Following the transaction, the insider now directly owns 3,907,536 shares of the company’s stock, valued at approximately $27,430,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dustin Weber sold 4,350 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $7.15, for a total transaction of $31,102.50. Following the sale, the chief financial officer now directly owns 1,884,926 shares of the company’s stock, valued at approximately $13,477,220.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,673 shares of company stock worth $307,748. 24.30% of the stock is currently owned by corporate insiders.

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.