Zacks: Analysts Anticipate TerraForm Power, Inc. (TERP) to Post -$0.54 EPS
Wall Street brokerages expect TerraForm Power, Inc. (NASDAQ:TERP) to announce earnings of ($0.54) per share for the current quarter, Zacks reports. Two analysts have made estimates for TerraForm Power’s earnings. The highest EPS estimate is ($0.24) and the lowest is ($0.84). TerraForm Power reported earnings of ($0.29) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 86.2%. The business is scheduled to report its next quarterly earnings report on Friday, February 23rd.
According to Zacks, analysts expect that TerraForm Power will report full year earnings of ($1.10) per share for the current year, with EPS estimates ranging from ($1.84) to ($0.47). For the next financial year, analysts forecast that the company will post earnings of ($0.60) per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover TerraForm Power.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.63). TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.75%. The firm had revenue of $135.22 million for the quarter.
TERP has been the topic of several analyst reports. Zacks Investment Research downgraded shares of TerraForm Power from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 price target on shares of TerraForm Power in a research report on Sunday, September 3rd. Finally, TheStreet raised TerraForm Power from a “d” rating to a “c-” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. TerraForm Power has a consensus rating of “Hold” and a consensus target price of $12.88.
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In related news, major shareholder Brookfield Asset Management In sold 625,000 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $12.95, for a total value of $8,093,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.55% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new stake in shares of TerraForm Power in the second quarter valued at about $173,000. Aquamarine Capital Management LLC bought a new stake in shares of TerraForm Power in the second quarter valued at about $2,513,000. State Street Corp lifted its stake in shares of TerraForm Power by 4.1% in the second quarter. State Street Corp now owns 1,602,705 shares of the solar energy provider’s stock valued at $19,233,000 after buying an additional 63,271 shares during the period. AHL Partners LLP bought a new position in TerraForm Power during the second quarter worth about $411,000. Finally, Tudor Investment Corp ET AL lifted its stake in TerraForm Power by 110.5% during the second 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 during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.
TerraForm Power (TERP) traded down 0.95% during midday trading on Friday, reaching $13.55. The company’s stock had a trading volume of 1,233,658 shares. TerraForm Power has a 12 month low of $11.98 and a 12 month high of $13.80. The stock’s 50-day moving average price is $13.25 and its 200-day moving average price is $12.68. The firm’s market capitalization is $2.01 billion.
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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