Zacks Investment Research Downgrades TerraForm Global, Inc. (GLBL) to Hold
TerraForm Global, Inc. (NASDAQ:GLBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “TerraForm Global, Inc. is a diversified renewable energy company. It owns and operates clean energy projects consists of solar, wind and hydro-electric generation assets. The Company’s project resides primarily in China, Brazil, India, South Africa, Honduras, Costa Rica, Nicaragua, Peru, Uruguay, Malaysia and Thailand. TerraForm Global, Inc. is headquartered in Bethesda, Maryland. “
GLBL has been the topic of a number of other research reports. BidaskClub lowered shares of TerraForm Global from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. ValuEngine lowered shares of TerraForm Global from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.38.
Shares of TerraForm Global (NASDAQ GLBL) traded up 2.06% during trading on Thursday, hitting $4.95. 449,800 shares of the stock traded hands. The firm’s market cap is $559.20 million. The company has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.58. TerraForm Global has a 12 month low of $3.38 and a 12 month high of $5.10.
TerraForm Global (NASDAQ:GLBL) last announced its earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $62.50 million for the quarter, compared to the consensus estimate of $66.33 million. TerraForm Global had a negative net margin of 26.87% and a negative return on equity of 6.15%. During the same period in the previous year, the firm posted $0.01 EPS. Analysts anticipate that TerraForm Global will post ($0.16) earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the stock. Brookfield Asset Management Inc. bought a new stake in TerraForm Global during the second quarter worth about $98,657,000. Banco BTG Pactual S.A. boosted its stake in TerraForm Global by 60.5% during the second quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock worth $8,136,000 after acquiring an additional 607,588 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in TerraForm Global by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 76,166 shares of the energy company’s stock worth $384,000 after acquiring an additional 219 shares in the last quarter. Sather Financial Group Inc bought a new stake in TerraForm Global during the second quarter worth about $510,000. Finally, Alpine Global Management LLC bought a new stake in TerraForm Global during the second quarter worth about $253,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.
About TerraForm Global
TerraForm Global, Inc is a holding company. The Company is a diversified renewable energy company that owns contracted solar and wind power plants. The Company operates through two segments: Solar Energy and Wind Energy. The segments include the Company’s entire portfolio of power plants. The Company’s portfolio consisted of solar and wind power plants located in Brazil, China, India, Malaysia, South Africa, Thailand and Uruguay with an aggregate net capacity of 916.4 megawatts (MW) as of October 31, 2016.
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