Brokerages Expect Azure Power Global Ltd (AZRE) to Announce ($0.15) EPS

Azure Power Global Ltd (NYSE:AZRE) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price target of $22.00 for the company and are predicting that the company will post ($0.15) EPS for the current quarter, according to Zacks. Zacks has also given Azure Power Global an industry rank of 67 out of 265 based on the ratings given to its competitors.

A number of equities analysts have issued reports on the stock. BidaskClub lowered shares of Azure Power Global from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Zacks Investment Research raised shares of Azure Power Global from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Monday, January 8th.

Azure Power Global (NYSE AZRE) traded down $0.04 on Friday, reaching $16.50. 10,582 shares of the company’s stock were exchanged, compared to its average volume of 12,388. Azure Power Global has a 12 month low of $12.53 and a 12 month high of $22.00. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 3.77. The stock has a market cap of $429.79, a price-to-earnings ratio of -15.14 and a beta of 0.02.

Azure Power Global (NYSE:AZRE) last posted its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.31. Azure Power Global had a negative net margin of 29.67% and a negative return on equity of 12.48%. equities research analysts anticipate that Azure Power Global will post -0.63 EPS for the current fiscal year.

An institutional investor recently raised its position in Azure Power Global stock. Van ECK Associates Corp grew its position in shares of Azure Power Global Ltd (NYSE:AZRE) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,754 shares of the energy company’s stock after purchasing an additional 7,852 shares during the quarter. Van ECK Associates Corp owned approximately 0.17% of Azure Power Global worth $714,000 as of its most recent SEC filing. 42.83% of the stock is owned by hedge funds and other institutional investors.

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Azure Power Global Company Profile

Azure Power Global Limited is an India-based power producer. The Company sells solar power in India on long term fixed price contracts to its customers. The Company is also developing micro-grid applications for the highly fragmented and underserved electricity market in India. The Company operates approximately 20 utility scale projects and several commercial rooftop projects with a combined rated capacity of approximately 240 megawatts.

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