FY2024 Earnings Estimate for Altus Power Issued By B. Riley

Altus Power, Inc. (NYSE:AMPS) – Research analysts at B. Riley increased their FY2024 earnings estimates for shares of Altus Power in a report released on Wednesday, November 13th. B. Riley analyst R. Pfingst now forecasts that the company will post earnings per share of $0.14 for the year, up from their prior estimate of $0.08. The consensus estimate for Altus Power’s current full-year earnings is $0.14 per share. B. Riley also issued estimates for Altus Power’s FY2025 earnings at ($0.13) EPS and FY2026 earnings at ($0.15) EPS.

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

Altus Power Trading Down 0.4 %

Shares of AMPS opened at $3.84 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.91. 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 $616.63 million, a PE ratio of 17.43 and a beta of 0.94. The stock’s 50-day moving average is $3.36 and its two-hundred day moving average is $3.70.

Institutional Trading of Altus Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Altus Power by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after buying an additional 3,116 shares during the period. Janus Henderson Group PLC raised its stake in Altus Power by 9.0% during the third quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after acquiring an additional 3,709 shares during the period. HTG Investment Advisors Inc. lifted its holdings in Altus Power by 8.6% in the third quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock worth $207,000 after acquiring an additional 5,148 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Altus Power by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock valued at $125,000 after acquiring an additional 6,209 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Altus Power by 14.3% during the second quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock valued at $284,000 after purchasing an additional 9,062 shares during the last quarter. Institutional investors and hedge funds 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.