Equities research analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to report $123.19 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Pattern Energy Group’s earnings, with the lowest sales estimate coming in at $114.10 million and the highest estimate coming in at $136.67 million. Pattern Energy Group reported sales of $92.03 million in the same quarter last year, which indicates a positive year-over-year growth rate of 33.9%. The company is scheduled to report its next quarterly earnings results on Thursday, November 8th.
On average, analysts expect that Pattern Energy Group will report full-year sales of $504.72 million for the current fiscal year, with estimates ranging from $440.58 million to $541.16 million. For the next fiscal year, analysts expect that the company will post sales of $606.25 million, with estimates ranging from $515.06 million to $783.03 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Pattern Energy Group.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.26. Pattern Energy Group had a net margin of 28.80% and a return on equity of 6.91%. The firm had revenue of $136.00 million during the quarter, compared to analyst estimates of $141.20 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year.
PEGI has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of Pattern Energy Group from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, June 19th. BidaskClub raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, July 16th. TheStreet raised shares of Pattern Energy Group from a “c+” rating to a “b-” rating in a research report on Thursday, August 23rd. Finally, National Bank Financial reduced their price target on shares of Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Pattern Energy Group currently has a consensus rating of “Hold” and an average price target of $22.21.
NASDAQ PEGI opened at $18.31 on Friday. Pattern Energy Group has a 52 week low of $16.58 and a 52 week high of $24.94. The stock has a market cap of $1.95 billion, a PE ratio of 94.89, a price-to-earnings-growth ratio of 0.45 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be issued a $0.422 dividend. This represents a $1.69 annualized dividend and a yield of 9.22%. The ex-dividend date is Thursday, September 27th. Pattern Energy Group’s dividend payout ratio is 889.47%.
Institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its holdings in Pattern Energy Group by 116.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 3,049 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Pattern Energy Group in the 2nd quarter worth approximately $124,000. Xact Kapitalforvaltning AB increased its holdings in Pattern Energy Group by 28.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 3,700 shares in the last quarter. CIBC World Markets Inc. increased its holdings in Pattern Energy Group by 38.1% in the 1st quarter. CIBC World Markets Inc. now owns 19,605 shares of the utilities provider’s stock worth $339,000 after acquiring an additional 5,410 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Pattern Energy Group by 29.0% in the 2nd quarter. Raymond James & Associates now owns 27,095 shares of the utilities provider’s stock worth $508,000 after acquiring an additional 6,094 shares in the last quarter. 89.85% of the stock is owned by institutional investors.
About Pattern Energy Group
Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pattern Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pattern Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.