Atlantic Power (AT) closed the most recent trading day at $2.33, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.52%.
Heading into today, shares of the utility had lost 4.12% over the past month, lagging the Utilities sector's gain of 3.08% and the S&P 500's gain of 3.12% in that time.
Investors will be hoping for strength from AT as it approaches its next earnings release. On that day, AT is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 166.67%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $288 million. These totals would mark changes of +50% and +2.02%, respectively, from last year.
Any recent changes to analyst estimates for AT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 118.18% higher within the past month. AT is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note AT's current valuation metrics, including its Forward P/E ratio of 9.71. Its industry sports an average Forward P/E of 20.12, so we one might conclude that AT is trading at a discount comparatively.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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