Analysts expect that Atlantic Power Corp (NYSE:AT) (TSE:ATP) will report $0.05 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Atlantic Power’s earnings. Atlantic Power reported earnings of ($0.03) per share during the same quarter last year, which would indicate a positive year over year growth rate of 266.7%. The business is expected to announce its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Atlantic Power will report full-year earnings of $0.24 per share for the current year. For the next financial year, analysts forecast that the company will post earnings of $0.27 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Atlantic Power.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Atlantic Power from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. ValuEngine cut Atlantic Power from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, National Bank Financial raised Atlantic Power from an “underperform” rating to a “sector perform” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Atlantic Power currently has a consensus rating of “Hold” and an average target price of $2.88.
Shares of Atlantic Power stock traded down $0.02 during trading on Friday, reaching $2.35. 312,398 shares of the company were exchanged, compared to its average volume of 255,029. The company has a quick ratio of 0.79, a current ratio of 0.89 and a debt-to-equity ratio of 70.34. Atlantic Power has a twelve month low of $2.07 and a twelve month high of $3.02. The business has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.46. The firm has a market capitalization of $259.23 million, a price-to-earnings ratio of 14.69 and a beta of 0.93.
In other news, EVP Joseph Cofelice acquired 20,000 shares of Atlantic Power stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $2.37 per share, with a total value of $47,400.00. Following the completion of the transaction, the executive vice president now directly owns 744,397 shares of the company’s stock, valued at $1,764,220.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert Samuel Palter acquired 3,500 shares of Atlantic Power stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $13.39 per share, with a total value of $46,865.00. Following the completion of the transaction, the director now directly owns 18,500 shares of the company’s stock, valued at $247,715. The disclosure for this purchase can be found here. Insiders have bought 98,500 shares of company stock valued at $265,015 over the last ninety days. 3.40% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of AT. Captrust Financial Advisors bought a new position in Atlantic Power during the 2nd quarter worth $37,000. Cetera Advisor Networks LLC bought a new stake in shares of Atlantic Power during the 1st quarter valued at $53,000. BNP Paribas Arbitrage SA raised its position in shares of Atlantic Power by 116.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 12,619 shares during the period. First Quadrant L P CA bought a new stake in shares of Atlantic Power during the 1st quarter valued at $61,000. Finally, Jefferies Group LLC bought a new stake in shares of Atlantic Power during the 2nd quarter valued at $75,000. 61.24% of the stock is owned by institutional investors.
Atlantic Power Company Profile
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.
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