$0.08 Earnings Per Share Expected for 8point3 Energy Partners LP (CAFD) This Quarter
Wall Street brokerages predict that 8point3 Energy Partners LP (NASDAQ:CAFD) will announce earnings per share of $0.08 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for 8point3 Energy Partners’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at ($0.03). The firm is scheduled to issue its next earnings report on Thursday, January 25th.
On average, analysts expect that 8point3 Energy Partners will report full year earnings of $0.53 per share for the current year, with EPS estimates ranging from $0.49 to $0.60. For the next financial year, analysts forecast that the business will report earnings of $0.62 per share, with EPS estimates ranging from $0.13 to $1.23. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for 8point3 Energy Partners.
8point3 Energy Partners (NASDAQ:CAFD) last released its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.38). 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. The business had revenue of $27.74 million during the quarter, compared to analyst estimates of $25.85 million.
A number of equities research analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $16.00 price target on shares of 8point3 Energy Partners in a report on Tuesday, September 12th. Zacks Investment Research lowered shares of 8point3 Energy Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of 8point3 Energy Partners in a report on Thursday, October 5th. FBR & Co set a $14.00 price target on shares of 8point3 Energy Partners and gave the company a “hold” rating in a report on Monday, July 10th. Finally, Bank of America Corporation assumed coverage on shares of 8point3 Energy Partners in a report on Tuesday, October 24th. They set an “underperform” rating and a $12.00 price target for the company. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. 8point3 Energy Partners has an average rating of “Hold” and a consensus target price of $13.92.
Several institutional investors have recently bought and sold shares of CAFD. Beach Investment Management LLC. lifted its position in shares of 8point3 Energy Partners by 1,123.7% in the 2nd quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock worth $17,700,000 after buying an additional 1,074,277 shares during the last quarter. Quentec Asset Management LLC lifted its position in shares of 8point3 Energy Partners by 12.6% in the 2nd quarter. Quentec Asset Management LLC now owns 1,965,458 shares of the energy company’s stock worth $29,737,000 after buying an additional 220,700 shares during the last quarter. Boston Common Asset Management LLC increased its holdings in shares of 8point3 Energy Partners by 36.3% in the 2nd quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock worth $5,602,000 after acquiring an additional 98,595 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of 8point3 Energy Partners by 102.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock worth $2,357,000 after acquiring an additional 78,922 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of 8point3 Energy Partners in the 1st quarter worth about $441,000. Institutional investors own 19.93% of the company’s stock.
Shares of 8point3 Energy Partners (NASDAQ CAFD) opened at $15.36 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.26 and a quick ratio of 3.26.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Tuesday, October 3rd were given a $0.2721 dividend. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend was Monday, October 2nd.
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8point3 Energy Partners Company Profile
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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