Today’s Market Runner: What’s Propelling Atlantica Yield PLC to Decline So Much?

Today's Market Runner: What's Propelling Atlantica Yield PLC to Decline So Much?

The stock of Atlantica Yield PLC (NASDAQ:ABY) is a huge mover today! The stock decreased 2.89% or $0.53 during the last trading session, hitting $17.79. About 340,052 shares traded hands. Atlantica Yield PLC (NASDAQ:ABY) has risen 9.37% since March 9, 2016 and is uptrending. It has outperformed by 1.96% the S&P500.
The move comes after 5 months negative chart setup for the $1.76B company. It was reported on Oct, 12 by Barchart.com. We have $16.19 PT which if reached, will make NASDAQ:ABY worth $158.40 million less.

Analysts await Atlantica Yield PLC (NASDAQ:ABY) to report earnings on November, 4. They expect $0.34 EPS, up 30.77% or $0.08 from last year’s $0.26 per share. ABY’s profit will be $33.64 million for 13.08 P/E if the $0.34 EPS becomes a reality. After $0.03 actual EPS reported by Atlantica Yield PLC for the previous quarter, Wall Street now forecasts 1,033.33% EPS growth.

Atlantica Yield PLC (NASDAQ:ABY) Ratings Coverage

Out of 3 analysts covering Abengoa Yield (NASDAQ:ABY), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. Abengoa Yield has been the topic of 8 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was maintained by Canaccord Genuity with “Buy” on Tuesday, August 11. RBC Capital Markets maintained it with “Outperform” rating and $47 target price in Monday, August 3 report. On Tuesday, September 8 the stock rating was downgraded by Bank of America to “Neutral”. The stock has “Hold” rating given by Canaccord Genuity on Monday, November 30. The stock of Atlantica Yield PLC (NASDAQ:ABY) earned “Equal-Weight” rating by Morgan Stanley on Wednesday, September 30. The stock has “Underperform” rating given by Bank of America on Monday, November 30.

According to Zacks Investment Research, “Atlantica Yield Plc owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. It operates primarily in North America, South America and Europe. Atlantica Yield Plc, formerly known as Abengoa Yield plc, is based in Brentford, the United Kingdom.”

More important recent Atlantica Yield PLC (NASDAQ:ABY) news were published by: Marketwatch.com which released: “Virtual Stock Exchange” on April 24, 2011, also Globenewswire.com published article titled: “Atlantica Yield to Present Second Quarter 2016 Financial Results on August 5”, Globenewswire.com published: “Abengoa Yield Changes Its Corporate Brand to Atlantica Yield” on January 07, 2016. More interesting news about Atlantica Yield PLC (NASDAQ:ABY) was released by: Nasdaq.com and their article: “Atlantica Yield plc (ABY) Ex-Dividend Date Scheduled for August 29, 2016” with publication date: August 26, 2016.

ABY Company Profile

Atlantica Yield Plc, incorporated on December 17, 2013, owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. The Firm owns approximately 20 assets, comprising 1,441 mega watts of renewable energy generation, 300 mega watts of conventional power generation, 1,099 miles of electric transmission lines and 10.5 Mft3 per day of water assets.

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