Q3 2024 Earnings Estimate for Altus Power, Inc. (NYSE:AMPS) Issued By B. Riley

Altus Power, Inc. (NYSE:AMPS) – Equities researchers at B. Riley reduced their Q3 2024 EPS estimates for shares of Altus Power in a research note issued on Wednesday, October 16th. B. Riley analyst R. Pfingst now forecasts that the company will post earnings of $0.04 per share for the quarter, down from their previous forecast of $0.05. 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.

AMPS has been the subject of several other research reports. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $8.00 to $4.00 in a research note on Wednesday, August 21st. UBS Group lowered their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Maxim Group cut their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Altus Power in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $6.00.

Altus Power Trading Up 24.7 %

NYSE:AMPS opened at $3.77 on Thursday. Altus Power has a 1 year low of $2.71 and a 1 year high of $7.28. The stock has a market cap of $604.93 million, a P/E ratio of -75.30 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day simple moving average of $3.15 and a 200-day simple moving average of $3.80.

Altus Power (NYSE:AMPS) 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 firm had revenue of $52.46 million during the quarter, compared to the consensus estimate of $57.61 million.

Institutional Trading of Altus Power

Large investors have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new stake in shares of Altus Power in the second quarter valued at about $39,000. Vaughan David Investments LLC IL purchased a new stake in Altus Power during the 2nd quarter valued at approximately $55,000. Susquehanna Fundamental Investments LLC acquired a new stake in Altus Power during the 2nd quarter worth approximately $68,000. Jacobs Levy Equity Management Inc. acquired a new stake in Altus Power during the 1st quarter worth approximately $88,000. Finally, Bailard Inc. acquired a new position in shares of Altus Power in the second quarter valued at approximately $114,000. 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.