Zacks: Brokerages Expect TerraForm Power, Inc. (TERP) to Announce -$0.20 Earnings Per Share
Equities research analysts forecast that TerraForm Power, Inc. (NASDAQ:TERP) will report earnings per share (EPS) of ($0.20) for the current quarter, according to Zacks. Two analysts have provided estimates for TerraForm Power’s earnings. The lowest EPS estimate is ($0.34) and the highest is ($0.05). TerraForm Power posted earnings of ($0.29) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 31%. The business is scheduled to announce its next quarterly earnings results on Friday, February 23rd.
On average, analysts expect that TerraForm Power will report full year earnings of ($0.75) per share for the current year, with EPS estimates ranging from ($1.54) to ($0.20). For the next year, analysts expect that the business will report earnings of ($1.01) per share. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover TerraForm Power.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.63). The firm had revenue of $135.22 million during the quarter. TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.71%.
Several equities analysts have recently weighed in on TERP shares. Zacks Investment Research upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday. Robert W. Baird reiterated a “hold” rating and issued a $13.00 target price on shares of TerraForm Power in a research note on Sunday, September 3rd. Finally, BidaskClub upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. TerraForm Power presently has a consensus rating of “Hold” and an average target price of $12.90.
Shares of TerraForm Power (TERP) traded down 0.69% during trading on Tuesday, hitting $13.01. The stock had a trading volume of 766,672 shares. The firm’s market cap is $1.62 billion. The firm’s 50-day moving average is $13.45 and its 200-day moving average is $12.62. TerraForm Power has a one year low of $10.99 and a one year high of $14.50.
Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in TerraForm Power during the first quarter worth about $400,000. Bank of New York Mellon Corp grew its stake in TerraForm Power by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 411,403 shares of the solar energy provider’s stock worth $5,088,000 after buying an additional 23,051 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in TerraForm Power by 71.3% during the first quarter. UBS Asset Management Americas Inc. now owns 26,815 shares of the solar energy provider’s stock worth $332,000 after buying an additional 11,161 shares in the last quarter. Karp Capital Management Corp acquired a new stake in TerraForm Power during the first quarter worth about $387,000. Finally, Parametric Portfolio Associates LLC grew its stake in TerraForm Power by 54.4% during the first quarter. Parametric Portfolio Associates LLC now owns 91,722 shares of the solar energy provider’s stock worth $1,135,000 after buying an additional 32,331 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.
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About TerraForm Power
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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