What is B. Riley’s Estimate for Altus Power FY2024 Earnings?

Altus Power, Inc. (NYSE:AMPS) – Research analysts at B. Riley issued their FY2024 earnings per share (EPS) estimates for Altus Power in a report released on Wednesday, October 16th. B. Riley analyst R. Pfingst forecasts that the company will earn $0.08 per share 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.

A number of other analysts have also commented on the company. UBS Group cut their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Maxim Group dropped 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. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Altus Power in a report on Wednesday. Finally, 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. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $6.00.

Altus Power Price Performance

Altus Power stock opened at $3.60 on Friday. The stock has a market capitalization of $578.42 million, a P/E ratio of -72.00 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. Altus Power has a 52 week low of $2.71 and a 52 week high of $7.28. The stock has a fifty day moving average of $3.15 and a 200-day moving average of $3.79.

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

Hedge Funds Weigh In On Altus Power

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