Zacks: Analysts Expect Atlantic Power Corp (NYSE:AT) to Announce $0.04 Earnings Per Share

Share on StockTwits

Brokerages predict that Atlantic Power Corp (NYSE:AT) (TSE:ATP) will post $0.04 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Atlantic Power’s earnings. Atlantic Power posted earnings of ($0.06) per share during the same quarter last year, which would indicate a positive year over year growth rate of 166.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Atlantic Power will report full-year earnings of $0.24 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $0.27 per share. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Atlantic Power.

Atlantic Power (NYSE:AT) (TSE:ATP) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $73.00 million during the quarter. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%.

Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Atlantic Power from a “hold” rating to a “strong-buy” rating and set a $2.75 price objective on the stock in a research report on Tuesday, May 21st. National Bank Financial raised shares of Atlantic Power from an “underperform” rating to a “sector perform” rating in a report on Friday, May 3rd. ValuEngine downgraded shares of Atlantic Power from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, TD Securities increased their price objective on shares of Atlantic Power from $2.75 to $3.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Atlantic Power currently has an average rating of “Buy” and an average price target of $2.88.

In related news, Director Kevin Howell bought 50,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was acquired at an average cost of $2.29 per share, for a total transaction of $114,500.00. Following the completion of the transaction, the director now directly owns 160,300 shares in the company, valued at approximately $367,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert Samuel Palter bought 25,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $2.25 per share, with a total value of $56,250.00. The disclosure for this purchase can be found here. Insiders have purchased 98,500 shares of company stock valued at $265,015 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Atlantic Power by 13.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,042,804 shares of the utilities provider’s stock valued at $2,294,000 after buying an additional 120,061 shares during the period. Rhumbline Advisers raised its holdings in shares of Atlantic Power by 41.4% in the 4th quarter. Rhumbline Advisers now owns 154,190 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 45,146 shares during the period. LPL Financial LLC raised its holdings in shares of Atlantic Power by 64.1% in the 4th quarter. LPL Financial LLC now owns 16,890 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 6,596 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Atlantic Power by 11.1% in the 4th quarter. Acadian Asset Management LLC now owns 169,800 shares of the utilities provider’s stock valued at $368,000 after purchasing an additional 16,900 shares during the period. Finally, Highstreet Asset Management Inc. acquired a new position in Atlantic Power in the 4th quarter valued at about $61,000. Institutional investors own 60.39% of the company’s stock.

Shares of Atlantic Power stock traded down $0.02 during midday trading on Tuesday, reaching $2.33. The company had a trading volume of 20,960 shares, compared to its average volume of 583,865. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 130.98. The firm has a market cap of $264.36 million, a P/E ratio of 14.50 and a beta of 1.00. The company’s fifty day moving average is $2.39. Atlantic Power has a 1-year low of $2.05 and a 1-year high of $3.02.

About Atlantic Power

Atlantic Power Corp. is a power producer company, which engages in owning power generation assets. The firm operates through its segments: East U.S., West U.S., Canada and Un-Allocated Corporate. It projects sell electricity and steam to investment-grade utilities and creditworthy large customers under long term Power Purchase Agreements.

See Also: What is a management fee?

Get a free copy of the Zacks research report on Atlantic Power (AT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Atlantic Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlantic Power and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Russell Investments Group Ltd. Sells 36,739 Shares of NOW Inc
Russell Investments Group Ltd. Sells 36,739 Shares of NOW Inc
Russell Investments Group Ltd. Purchases 40,107 Shares of Northwest Bancshares, Inc.
Russell Investments Group Ltd. Purchases 40,107 Shares of Northwest Bancshares, Inc.
-$0.27 EPS Expected for Adverum Biotechnologies Inc  This Quarter
-$0.27 EPS Expected for Adverum Biotechnologies Inc This Quarter
Berenberg Bank Raises Eco Atlantic Oil & Gas  Price Target to GBX 230
Berenberg Bank Raises Eco Atlantic Oil & Gas Price Target to GBX 230
$1.14 Earnings Per Share Expected for Altria Group Inc  This Quarter
$1.14 Earnings Per Share Expected for Altria Group Inc This Quarter
Discovery Inc Series C  Short Interest Update
Discovery Inc Series C Short Interest Update


 
© 2006-2019 Zolmax.