Altus Power FY2024 EPS Estimate Lifted by Seaport Res Ptn

Altus Power, Inc. (NYSE:AMPS) – Stock analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for Altus Power in a note issued to investors on Thursday, November 14th. Seaport Res Ptn analyst J. Campbell now forecasts that the company will earn $0.12 per share for the year, up from their prior estimate of $0.02. The consensus estimate for Altus Power’s current full-year earnings is $0.14 per share. Seaport Res Ptn also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.07) EPS, Q1 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.05 EPS and FY2026 earnings at ($0.02) EPS.

A number of other equities research analysts have also recently commented on AMPS. Citigroup reduced their price target on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Maxim Group decreased their target price on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. UBS Group cut their price target 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. Morgan Stanley lowered shares of Altus Power from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. Finally, Roth Mkm reiterated a “buy” rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $5.81.

Altus Power Stock Performance

Altus Power stock opened at $3.85 on Monday. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $619.04 million, a P/E ratio of 17.50 and a beta of 0.94. The stock’s 50 day moving average is $3.35 and its 200 day moving average is $3.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Swedbank AB bought a new position in Altus Power during the first quarter valued at approximately $12,589,000. Dimensional Fund Advisors LP increased its position in Altus Power by 37.2% in 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 raised its stake in Altus Power by 112.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after purchasing an additional 745,810 shares in the last quarter. Long Focus Capital Management LLC lifted its position in Altus Power by 427.6% during the second quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock valued at $2,152,000 after purchasing an additional 445,000 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Altus Power in the 2nd quarter worth $1,085,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

About Altus Power

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.