Zacks: Brokerages Expect TerraForm Power, Inc. (TERP) Will Post Quarterly Sales of $159.84 Million
Brokerages predict that TerraForm Power, Inc. (NASDAQ:TERP) will report $159.84 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for TerraForm Power’s earnings, with estimates ranging from $148.57 million to $171.10 million. TerraForm Power reported sales of $178.12 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.3%. The company is scheduled to issue its next earnings results on Friday, February 23rd.
On average, analysts expect that TerraForm Power will report full-year sales of $159.84 million for the current fiscal year. For the next fiscal year, analysts forecast that the company will post sales of $625.88 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for TerraForm Power.
TerraForm Power (NASDAQ:TERP) last issued its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.63). The business 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 5.75%.
Several research firms have recently issued reports on TERP. Robert W. Baird raised TerraForm Power from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $13.00 to $19.00 in a research note on Monday. Zacks Investment Research downgraded TerraForm Power from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of TerraForm Power in a research note on Thursday, October 19th. Finally, TheStreet raised TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. TerraForm Power currently has an average rating of “Hold” and a consensus price target of $14.38.
TerraForm Power (NASDAQ TERP) opened at 13.91 on Tuesday. TerraForm Power has a 52 week low of $11.98 and a 52 week high of $14.20. The company’s market cap is $1.73 billion. The stock has a 50 day moving average of $13.26 and a 200 day moving average of $12.69.
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In related news, major shareholder Brookfield Asset Management In sold 625,000 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $12.95, for a total value of $8,093,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 34.55% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in TerraForm Power by 0.6% in the first quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock valued at $134,000 after acquiring an additional 69 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in TerraForm Power by 1.2% in the second quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock valued at $326,000 after acquiring an additional 323 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in TerraForm Power by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 327,371 shares of the solar energy provider’s stock valued at $3,929,000 after acquiring an additional 1,979 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in TerraForm Power by 1.8% in the second quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock valued at $1,328,000 after acquiring an additional 2,000 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in TerraForm Power by 7.1% in the first quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock valued at $666,000 after acquiring an additional 3,559 shares during the last quarter. Institutional investors and hedge funds own 82.25% of the company’s stock.
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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