Oppenheimer Holdings Research Analysts Cut Earnings Estimates for TerraForm Power, Inc. (TERP)
TerraForm Power, Inc. (NASDAQ:TERP) – Oppenheimer Holdings lowered their Q2 2017 earnings per share estimates for TerraForm Power in a research report issued on Tuesday. Oppenheimer Holdings analyst C. Rusch now expects that the solar energy provider will post earnings per share of ($0.04) for the quarter, down from their prior estimate of ($0.03). Oppenheimer Holdings also issued estimates for TerraForm Power’s Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at ($0.27) EPS and FY2017 earnings at ($0.78) EPS.
A number of other analysts have also commented on the company. Zacks Investment Research raised TerraForm Power from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Robert W. Baird reissued a “hold” rating and set a $13.00 price objective on shares of TerraForm Power in a report on Sunday, September 3rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $12.90.
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TerraForm Power (NASDAQ TERP) opened at 13.78 on Friday. The firm has a 50-day moving average price of $13.19 and a 200-day moving average price of $12.43. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.69. The company’s market capitalization is $1.72 billion.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.63. The company had revenue of $135.22 million during the quarter. TerraForm Power had a negative net margin of 24.72% and a negative return on equity of 5.81%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Verition Fund Management LLC bought a new stake in TerraForm Power during the 2nd quarter worth approximately $173,000. Aquamarine Capital Management LLC bought a new stake in TerraForm Power during the 2nd quarter worth approximately $2,513,000. State Street Corp increased its holdings in TerraForm Power by 4.1% during the 2nd quarter. State Street Corp now owns 1,602,705 shares of the solar energy provider’s stock worth $19,233,000 after purchasing an additional 63,271 shares in the last quarter. AHL Partners LLP bought a new stake in TerraForm Power during the 2nd quarter worth approximately $411,000. Finally, Tudor Investment Corp ET AL increased its holdings in TerraForm Power by 110.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 29,690 shares of the solar energy provider’s stock worth $356,000 after purchasing an additional 15,588 shares in the last quarter. 80.79% of the stock is owned by hedge funds and other institutional investors.
TerraForm Power Company Profile
TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.
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