Azure Power Global Ltd (NYSE:AZRE) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus price objective of $22.00 for the company and are forecasting that the company will post ($0.07) EPS for the current quarter, according to Zacks. Zacks has also given Azure Power Global an industry rank of 185 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Azure Power Global from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Monday, January 8th.
Shares of Azure Power Global (NYSE AZRE) traded down $1.83 during mid-day trading on Monday, hitting $14.29. The company’s stock had a trading volume of 21,758 shares, compared to its average volume of 6,707. The company has a debt-to-equity ratio of 3.90, a current ratio of 3.65 and a quick ratio of 3.65. Azure Power Global has a 52 week low of $12.53 and a 52 week high of $22.00. The company has a market cap of $418.88, a P/E ratio of -18.32 and a beta of 1.28.
Azure Power Global (NYSE:AZRE) last issued its earnings results on Thursday, February 8th. The energy company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.03. Azure Power Global had a negative return on equity of 10.40% and a negative net margin of 19.14%. The business had revenue of $27.26 million during the quarter, compared to analysts’ expectations of $29.90 million. equities analysts expect that Azure Power Global will post -0.63 EPS for the current year.
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About Azure Power Global
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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