Altus Power FY2024 EPS Estimate Increased by Roth Capital

Altus Power, Inc. (NYSE:AMPS) – Roth Capital boosted their FY2024 EPS estimates for shares of Altus Power in a research note issued to investors on Wednesday, November 13th. Roth Capital analyst J. Clare now forecasts that the company will earn $0.12 per share for the year, up from their previous estimate of $0.05. The consensus estimate for Altus Power’s current full-year earnings is $0.08 per share. Roth Capital also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.09) EPS and FY2026 earnings at ($0.11) EPS.

Several other brokerages have also weighed in on AMPS. UBS Group cut their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Maxim Group reduced their price target on Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Citigroup dropped their price objective on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Morgan Stanley lowered shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Altus Power presently has a consensus rating of “Buy” and a consensus price target of $5.81.

Altus Power Stock Down 6.2 %

Shares of AMPS opened at $3.85 on Friday. The company has a 50-day moving average price of $3.35 and a two-hundred day moving average price of $3.70. Altus Power has a 12 month low of $2.71 and a 12 month high of $7.28. The stock has a market cap of $618.23 million, a price-to-earnings ratio of 17.48 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Institutional Investors Weigh In On Altus Power

Hedge funds have recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Altus Power during the first quarter worth $12,589,000. Dimensional Fund Advisors LP boosted its holdings in Altus Power by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after purchasing an additional 807,071 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Altus Power by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock worth $5,531,000 after purchasing an additional 745,810 shares in the last quarter. Long Focus Capital Management LLC increased its stake in Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after buying an additional 445,000 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Altus Power during the 2nd quarter worth approximately $1,085,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Company Profile

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.