FY2024 EPS Estimates for Altus Power Raised by Roth Capital

Altus Power, Inc. (NYSE:AMPS) – Stock analysts at Roth Capital lifted their FY2024 EPS estimates for shares of Altus Power in a report issued on Wednesday, November 13th. Roth Capital analyst J. Clare now expects that the company will post earnings of $0.12 per share for the year, up from their prior 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 analysts have also commented on AMPS. UBS Group lowered their price objective 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. Citigroup lowered their target price on Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. 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 note on Monday, August 12th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of Altus Power in a research report on Wednesday, October 16th. Two equities research 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. Based on data from MarketBeat, Altus Power presently has a consensus rating of “Buy” and a consensus target price of $5.81.

Altus Power Price Performance

AMPS opened at $3.85 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.91 and a current ratio of 0.60. The stock has a market capitalization of $619.03 million, a PE ratio of 17.50 and a beta of 0.94. The stock’s 50 day moving average price is $3.35 and its 200-day moving average price is $3.70. Altus Power has a 52-week low of $2.71 and a 52-week high of $7.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Altus Power in the second quarter worth approximately $39,000. Iridian Asset Management LLC CT bought a new stake in shares of Altus Power during the third quarter worth $40,000. HighTower Advisors LLC bought a new stake in shares of Altus Power during the third quarter worth $41,000. Vaughan David Investments LLC IL bought a new stake in shares of Altus Power during the second quarter worth $55,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Altus Power during the second quarter valued at $68,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

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.