B. Riley Estimates Altus Power's FY2024 Earnings (NYSE:AMPS)

Altus Power, Inc. (NYSE:AMPS - Free Report) - B. Riley issued their FY2024 earnings per share (EPS) estimates for Altus Power in a report issued on Wednesday, October 16th. B. Riley analyst R. Pfingst expects that the company will post earnings per share of $0.08 for the year. B. Riley has a "Strong-Buy" rating on the stock. The consensus estimate for Altus Power's current full-year earnings is $0.08 per share. B. Riley also issued estimates for Altus Power's Q4 2024 earnings at ($0.04) EPS and FY2025 earnings at ($0.11) EPS.

Several other brokerages have also commented on AMPS. UBS Group decreased 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. Morgan Stanley cut Altus Power from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 21st. Roth Mkm reissued a "buy" rating and set a $4.50 target price on shares of Altus Power in a research note on Wednesday. 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 report on Monday, August 12th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $6.00.

Altus Power Trading Up 0.6 %

AMPS traded up $0.02 during trading hours on Friday, reaching $3.62. The company's stock had a trading volume of 1,062,537 shares, compared to its average volume of 1,074,659. The stock has a market cap of $581.63 million, a PE ratio of -72.40 and a beta of 0.96. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.91 and a quick ratio of 0.91. The business's 50-day moving average is $3.16 and its 200-day moving average is $3.79.

Altus Power (NYSE:AMPS - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The company had revenue of $52.46 million for the quarter, compared to the consensus estimate of $57.61 million.

Institutional Trading of Altus Power

Several hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Altus Power in the 2nd quarter valued at approximately $39,000. Vaughan David Investments LLC IL purchased a new position in Altus Power in the second quarter valued at $55,000. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power in the second quarter valued at $68,000. Jacobs Levy Equity Management Inc. purchased a new stake in Altus Power during the 1st quarter worth about $88,000. Finally, SG Americas Securities LLC lifted its holdings in Altus Power by 135.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,146 shares of the company's stock worth $96,000 after buying an additional 17,368 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.