Zacks: Brokerages Expect TerraForm Power (TERP) Will Post Earnings of -$0.13 Per Share

Equities research analysts expect that TerraForm Power (NASDAQ:TERP) will report earnings per share of ($0.13) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for TerraForm Power’s earnings, with estimates ranging from ($0.20) to ($0.06). TerraForm Power posted earnings per share of ($0.20) during the same quarter last year, which indicates a positive year-over-year growth rate of 35%. The business is scheduled to issue its next quarterly earnings report on Friday, October 5th.

On average, analysts expect that TerraForm Power will report full-year earnings of $0.21 per share for the current fiscal year, with EPS estimates ranging from $0.13 to $0.28. For the next financial year, analysts anticipate that the firm will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.26) to $0.02. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow TerraForm Power.

TerraForm Power (NASDAQ:TERP) last released its earnings results on Tuesday, May 1st. The solar energy provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.75. TerraForm Power had a negative net margin of 8.33% and a negative return on equity of 0.11%. The company had revenue of $127.55 million for the quarter, compared to analyst estimates of $145.30 million.

Several brokerages have weighed in on TERP. ValuEngine cut shares of TerraForm Power from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. BidaskClub cut shares of TerraForm Power from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. Zacks Investment Research raised shares of TerraForm Power from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research report on Tuesday, May 8th. JPMorgan Chase & Co. raised shares of TerraForm Power from a “neutral” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Thursday, May 3rd. Finally, Goldman Sachs Group cut shares of TerraForm Power from a “neutral” rating to a “sell” rating in a research report on Thursday, March 15th. Four analysts have rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $13.67.

Large investors have recently bought and sold shares of the company. Ecofin Ltd. lifted its position in shares of TerraForm Power by 112.5% in the 4th quarter. Ecofin Ltd. now owns 2,934,375 shares of the solar energy provider’s stock worth $35,095,000 after purchasing an additional 1,553,675 shares during the period. Two Sigma Investments LP lifted its position in TerraForm Power by 76.9% during the 4th quarter. Two Sigma Investments LP now owns 160,646 shares of the solar energy provider’s stock valued at $1,921,000 after acquiring an additional 69,846 shares during the period. Strategic Value Partners LLC purchased a new position in TerraForm Power during the 4th quarter valued at about $166,302,000. Bank of Montreal Can lifted its position in TerraForm Power by 228.0% during the 4th quarter. Bank of Montreal Can now owns 27,314 shares of the solar energy provider’s stock valued at $326,000 after acquiring an additional 18,986 shares during the period. Finally, Kayne Anderson Capital Advisors LP purchased a new position in TerraForm Power during the 4th quarter valued at about $308,000. 47.72% of the stock is owned by hedge funds and other institutional investors.

Shares of TerraForm Power traded down $0.09, hitting $10.91, on Friday, Marketbeat reports. 35,279 shares of the company’s stock traded hands, compared to its average volume of 601,677. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.66 and a current ratio of 0.64. TerraForm Power has a one year low of $10.02 and a one year high of $14.20. The firm has a market cap of $1.63 billion, a P/E ratio of -9.09 and a beta of 1.02.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a $0.19 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.76 annualized dividend and a dividend yield of 6.97%. TerraForm Power’s dividend payout ratio is -62.81%.

About TerraForm Power

TerraForm Power, Inc, together with its subsidiaries, owns and operates clean power generation assets. As of December 31, 2017, its portfolio consisted of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with a combined nameplate capacity of 2,606.4 megawatts.

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