B. Riley Has Strong Forecast for Altus Power FY2024 Earnings

Altus Power, Inc. (NYSE:AMPS) – Equities research analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for Altus Power in a research note issued to investors on Wednesday, November 13th. B. Riley analyst R. Pfingst now anticipates that the company will earn $0.14 per share for the year, up from their previous forecast 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.

AMPS has been the topic of several other research reports. Maxim Group reduced their price objective 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. Morgan Stanley lowered shares of Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $8.00 to $4.00 in a report on Wednesday, August 21st. UBS Group decreased their price objective on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Finally, Citigroup decreased 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. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Altus Power has a consensus rating of “Buy” and a consensus target price of $5.81.

Altus Power Trading Up 1.2 %

AMPS opened at $3.88 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.60 and a quick ratio of 0.60. Altus Power has a fifty-two week low of $2.71 and a fifty-two week high of $7.28. The company’s 50 day moving average price is $3.38 and its two-hundred day moving average price is $3.69. The firm has a market capitalization of $623.05 million, a price-to-earnings ratio of 17.61 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Altus Power by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after acquiring an additional 3,116 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Altus Power by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares in the last quarter. HTG Investment Advisors Inc. grew its position in Altus Power by 8.6% in the 3rd quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after purchasing an additional 5,148 shares during the period. The Manufacturers Life Insurance Company increased its stake in Altus Power by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock valued at $125,000 after purchasing an additional 6,209 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Altus Power by 14.3% during the second quarter. American Century Companies Inc. now owns 72,322 shares of the company’s stock worth $284,000 after buying an additional 9,062 shares during the last quarter. 46.55% of the stock is owned by institutional investors and hedge funds.

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.