Zacks: Analysts Anticipate TerraForm Power, Inc. New (TERP) Will Post Earnings of -$0.49 Per Share

Brokerages expect TerraForm Power, Inc. New (NASDAQ:TERP) to post ($0.49) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for TerraForm Power, Inc. New’s earnings. The lowest EPS estimate is ($0.61) and the highest is ($0.35). TerraForm Power, Inc. New reported earnings of ($0.94) per share in the same quarter last year, which would suggest a positive year over year growth rate of 47.9%. The business is scheduled to announce its next earnings results on Friday, July 20th.

On average, analysts expect that TerraForm Power, Inc. New will report full-year earnings of ($1.00) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($0.51). For the next fiscal year, analysts expect that the company will report earnings of ($0.38) per share, with EPS estimates ranging from ($0.68) to $0.25. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for TerraForm Power, Inc. New.

TerraForm Power, Inc. New (NASDAQ:TERP) last released its earnings results on Thursday, November 9th. The solar energy provider reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). TerraForm Power, Inc. New had a negative return on equity of 5.87% and a negative net margin of 21.83%. The business had revenue of $153.43 million during the quarter, compared to the consensus estimate of $152.18 million.

A number of research analysts recently commented on the company. Bank of America assumed coverage on TerraForm Power, Inc. New in a report on Tuesday, October 24th. They issued an “underperform” rating and a $11.00 price objective on the stock. Zacks Investment Research upgraded shares of TerraForm Power, Inc. New from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 target price on shares of TerraForm Power, Inc. New in a research note on Thursday, October 19th. Robert W. Baird upgraded shares of TerraForm Power, Inc. New from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $13.00 to $19.00 in a research note on Monday, October 23rd. Finally, Goldman Sachs Group started coverage on shares of TerraForm Power, Inc. New in a report on Monday, November 27th. They issued a “neutral” rating and a $13.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.58.

TerraForm Power, Inc. New (TERP) traded up $0.06 on Tuesday, reaching $10.44. The company had a trading volume of 285,296 shares, compared to its average volume of 332,743. TerraForm Power, Inc. New has a 12-month low of $10.02 and a 12-month high of $14.20. The firm has a market capitalization of $1,540.00 and a PE ratio of -6.47. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.08.

Several institutional investors and hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its position in shares of TerraForm Power, Inc. New by 1.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock worth $326,000 after purchasing an additional 323 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in TerraForm Power, Inc. New by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 327,371 shares of the solar energy provider’s stock worth $3,929,000 after buying an additional 1,979 shares in the last quarter. Alliancebernstein L.P. increased its position in TerraForm Power, Inc. New by 1.8% in the second quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock worth $1,328,000 after buying an additional 2,000 shares in the last quarter. Voya Investment Management LLC increased its position in TerraForm Power, Inc. New by 11.2% in the second quarter. Voya Investment Management LLC now owns 39,966 shares of the solar energy provider’s stock worth $480,000 after buying an additional 4,014 shares in the last quarter. Finally, American International Group Inc. increased its position in TerraForm Power, Inc. New by 8.1% in the third quarter. American International Group Inc. now owns 54,077 shares of the solar energy provider’s stock worth $715,000 after buying an additional 4,043 shares in the last quarter. 46.95% of the stock is owned by institutional investors and hedge funds.

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About TerraForm Power, Inc. New

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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