Analysts predict that 8point3 Energy Partners LP (NASDAQ:CAFD) will post earnings per share (EPS) of $0.65 for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for 8point3 Energy Partners’ earnings, with estimates ranging from $0.30 to $0.85. 8point3 Energy Partners reported earnings of $0.38 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 71.1%. The business is expected to report its next quarterly earnings report on Tuesday, September 19th.

On average, analysts expect that 8point3 Energy Partners will report full year earnings of $0.94 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $1.18. For the next fiscal year, analysts anticipate that the business will report earnings of $1.05 per share, with EPS estimates ranging from $0.62 to $1.57. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for 8point3 Energy Partners.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings results on Thursday, June 29th. The energy company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.03. 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. The business had revenue of $16.68 million for the quarter, compared to the consensus estimate of $15.52 million.

Several brokerages have recently issued reports on CAFD. Vetr cut 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $13.33 price objective on the stock. in a report on Thursday, June 8th. Credit Suisse Group decreased their price target on 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating on the stock in a report on Tuesday, July 4th. Zacks Investment Research lowered 8point3 Energy Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Guggenheim lowered 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Wednesday, June 14th. Finally, Janney Montgomery Scott decreased their price target on 8point3 Energy Partners from $20.00 to $13.50 and set a “hold” rating on the stock in a report on Tuesday, July 4th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.20.

8point3 Energy Partners (NASDAQ CAFD) opened at 14.66 on Friday. The firm’s 50-day moving average is $14.43 and its 200-day moving average is $13.61. The company has a market capitalization of $411.67 million, a PE ratio of 57.27 and a beta of 0.83. 8point3 Energy Partners has a 12 month low of $11.51 and a 12 month high of $15.74.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global X Management Co. LLC grew its position in shares of 8point3 Energy Partners by 7.6% during the 1st quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock worth $147,000 after buying an additional 761 shares in the last quarter. Wealthsource Partners LLC grew its position in shares of 8point3 Energy Partners by 8.6% during the 1st quarter. Wealthsource Partners LLC now owns 12,650 shares of the energy company’s stock worth $172,000 after buying an additional 1,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of 8point3 Energy Partners by 14.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock worth $142,000 after buying an additional 1,200 shares in the last quarter. Credit Suisse AG grew its position in shares of 8point3 Energy Partners by 19.3% during the 1st quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock worth $182,000 after buying an additional 2,168 shares in the last quarter. Finally, UBS Group AG grew its position in shares of 8point3 Energy Partners by 16.6% during the 1st quarter. UBS Group AG now owns 18,438 shares of the energy company’s stock worth $250,000 after buying an additional 2,630 shares in the last quarter. 56.33% of the stock is currently owned by institutional investors and hedge funds.

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About 8point3 Energy Partners

8point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of November 30, 2016, Company’s portfolio comprised interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories.

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Earnings History and Estimates for 8point3 Energy Partners (NASDAQ:CAFD)

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