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Hannon Armstrong Sustainable Infrastructure Capital, Inc.
HASI Details
Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE: HASI) provides debt and equity financing to the energy markets in the United States.
Financial Results for Q3 FY 2023
Key Update
HASI announced that it has upsized as well as priced the private offering of $550 Mn in aggregate principal amount of 8% green senior unsecured notes due 2027 by the indirect subsidiaries, HAT Holdings I LLC and HAT Holdings II LLC.
Outlook
HASI is expecting that annual distributable earnings per share would grow at the compounded annual rate of 10% - 13% from 2021 to 2024, relative to the 2020 baseline of $1.55 per share, which is equivalent to 2024 midpoint of $2.40 per share.
Key Risks
Decline in the level of government support, higher competition, etc. are some of the risks HASI is exposed to.
Fundamental Valuation
Stock Recommendation
Considering the risks associated, the company might trade at some discount to its peers’ P/E multiple average. The company’s performance is exposed to the risks related to the global slowdown as well as geopolitical tensions. Therefore, investors should exit the stock.
Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 27.87 per share, up by 8.28% as on 13th December 2023.
Technical Overview:
Daily Price Chart
HASI Daily Technical Chart, Data Source: REFINITIV
Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for share price chart and stock valuation is based on December 13, 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.
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