$14.47 Million in Sales Expected for 8point3 Energy Partners LP (CAFD) This Quarter
Brokerages expect 8point3 Energy Partners LP (NASDAQ:CAFD) to report $14.47 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for 8point3 Energy Partners’ earnings, with estimates ranging from $13.50 million to $15.70 million. The firm is scheduled to announce its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that 8point3 Energy Partners will report full year sales of $14.47 million for the current year, with estimates ranging from $66.70 million to $70.00 million. For the next fiscal year, analysts forecast that the business will report sales of $77.41 million per share, with estimates ranging from $66.40 million to $94.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow 8point3 Energy Partners.
8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). The firm had revenue of $27.74 million for the quarter, compared to the consensus estimate of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%.
8point3 Energy Partners (CAFD) traded up $0.42 during mid-day trading on Thursday, reaching $14.73. The company’s stock had a trading volume of 271,765 shares, compared to its average volume of 232,669. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.26 and a quick ratio of 3.26. 8point3 Energy Partners has a 52-week low of $11.51 and a 52-week high of $15.79.
Large investors have recently made changes to their positions in the stock. Shelton Capital Management grew its stake in shares of 8point3 Energy Partners by 4.1% during the third quarter. Shelton Capital Management now owns 101,000 shares of the energy company’s stock worth $1,518,000 after buying an additional 4,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of 8point3 Energy Partners by 90.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,357 shares of the energy company’s stock worth $351,000 after buying an additional 11,112 shares during the last quarter. Quentec Asset Management LLC grew its stake in shares of 8point3 Energy Partners by 15.1% during the third quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock worth $34,015,000 after buying an additional 297,702 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of 8point3 Energy Partners during the third quarter worth $156,000. Finally, Trillium Asset Management LLC grew its stake in shares of 8point3 Energy Partners by 1.1% during the third quarter. Trillium Asset Management LLC now owns 365,273 shares of the energy company’s stock worth $5,490,000 after buying an additional 3,882 shares during the last quarter. 18.50% of the stock is currently owned by institutional investors and hedge funds.
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About 8point3 Energy Partners
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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