Atlantic Power Corp (NYSE:AT) Expected to Announce Earnings of $0.07 Per Share

Equities research analysts forecast that Atlantic Power Corp (NYSE:AT) (TSE:ATP) will announce earnings per share (EPS) of $0.07 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Atlantic Power’s earnings. Atlantic Power posted earnings of $0.01 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 600%. The firm is expected to issue its next earnings results after the market closes on Thursday, August 6th.

On average, analysts expect that Atlantic Power will report full-year earnings of $0.45 per share for the current year. For the next financial year, analysts anticipate that the company will post earnings of $0.34 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Atlantic Power.

Atlantic Power (NYSE:AT) (TSE:ATP) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $72.80 million during the quarter. Atlantic Power had a negative net margin of 6.61% and a negative return on equity of 120.15%.

Several analysts have issued reports on the stock. National Bank Financial raised shares of Atlantic Power from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $2.40 to $2.50 in a research report on Monday, May 11th. Zacks Investment Research lowered shares of Atlantic Power from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. ValuEngine upgraded shares of Atlantic Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, TD Securities reduced their price objective on shares of Atlantic Power from $2.75 to $2.50 and set a “hold” rating on the stock in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $2.33.

In other Atlantic Power news, CEO James J. Moore, Jr. acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $1.86 per share, for a total transaction of $46,500.00. Following the acquisition, the chief executive officer now directly owns 1,101,726 shares in the company, valued at $2,049,210.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Cofelice acquired 17,657 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $1.84 per share, with a total value of $32,488.88. Following the acquisition, the executive vice president now owns 884,437 shares in the company, valued at $1,627,364.08. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 48,057 shares of company stock valued at $89,047. 3.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RMB Capital Management LLC raised its holdings in Atlantic Power by 25.6% in the 1st quarter. RMB Capital Management LLC now owns 1,472,896 shares of the utilities provider’s stock valued at $3,152,000 after buying an additional 299,896 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Atlantic Power by 11.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,209,151 shares of the utilities provider’s stock worth $2,587,000 after purchasing an additional 120,859 shares during the last quarter. Geode Capital Management LLC raised its holdings in Atlantic Power by 16.3% during the 1st quarter. Geode Capital Management LLC now owns 784,636 shares of the utilities provider’s stock worth $1,679,000 after purchasing an additional 110,095 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Atlantic Power by 4.9% during the 1st quarter. Alliancebernstein L.P. now owns 613,397 shares of the utilities provider’s stock worth $1,313,000 after purchasing an additional 28,600 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Atlantic Power by 5.5% during the 4th quarter. Renaissance Technologies LLC now owns 563,835 shares of the utilities provider’s stock worth $1,313,000 after purchasing an additional 29,600 shares during the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.

Atlantic Power stock opened at $1.96 on Friday. The company has a 50 day moving average of $1.98 and a 200-day moving average of $2.11. The stock has a market capitalization of $180.23 million, a PE ratio of -7.54 and a beta of 0.55. Atlantic Power has a twelve month low of $1.70 and a twelve month high of $2.56.

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.

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