Altus Power FY2024 EPS Estimate Increased by Seaport Res Ptn

Altus Power, Inc. (NYSE:AMPS) – Stock analysts at Seaport Res Ptn boosted their FY2024 earnings per share estimates for Altus Power in a research report issued to clients and investors on Thursday, November 14th. Seaport Res Ptn analyst J. Campbell now anticipates that the company will earn $0.12 per share for the year, up from their previous estimate of $0.02. The consensus estimate for Altus Power’s current full-year earnings is $0.14 per share. Seaport Res Ptn also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.07) EPS, Q1 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.05 EPS and FY2026 earnings at ($0.02) EPS.

Several other equities research analysts have also issued reports on AMPS. Maxim Group decreased their target price on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley lowered shares of Altus Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Roth Mkm reaffirmed a “buy” rating and set a $4.50 target price on shares of Altus Power in a report on Wednesday, October 16th. Citigroup cut 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. Finally, UBS Group decreased their price target 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. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.81.

Altus Power Stock Performance

AMPS stock opened at $3.85 on Monday. The business has a 50 day moving average of $3.35 and a 200-day moving average of $3.70. The firm has a market cap of $619.04 million, a PE ratio of 17.50 and a beta of 0.94. Altus Power has a 12-month low of $2.71 and a 12-month high of $7.28. The company has a quick ratio of 0.91, a current ratio of 0.60 and a debt-to-equity ratio of 2.10.

Institutional Trading of Altus Power

Several hedge funds and other institutional investors have recently bought and sold shares of AMPS. Swedbank AB purchased a new stake in Altus Power in the 1st quarter worth approximately $12,589,000. Dimensional Fund Advisors LP boosted its holdings in Altus Power by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock valued at $11,662,000 after acquiring an additional 807,071 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after purchasing an additional 745,810 shares during the period. Long Focus Capital Management LLC lifted its position in shares of Altus Power by 427.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after purchasing an additional 445,000 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Altus Power during the 2nd quarter valued at about $1,085,000. Institutional investors 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.