TerraForm Global, Inc. (GLBL) Rating Lowered to Hold at Zacks Investment Research

TerraForm Global, Inc. (NASDAQ:GLBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “TerraForm Global, Inc. is a diversified renewable energy company. It owns and operates clean energy projects consists of solar, wind and hydro-electric generation assets. The Company’s project resides primarily in China, Brazil, India, South Africa, Honduras, Costa Rica, Nicaragua, Peru, Uruguay, Malaysia and Thailand. TerraForm Global, Inc. is headquartered in Bethesda, Maryland. “

A number of other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of TerraForm Global from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub upgraded shares of TerraForm Global from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.38.

TerraForm Global (NASDAQ GLBL) opened at 4.75 on Thursday. The firm has a 50-day moving average of $4.88 and a 200-day moving average of $4.62. The firm’s market capitalization is $536.61 million. TerraForm Global has a 52-week low of $3.40 and a 52-week high of $5.10.

TerraForm Global (NASDAQ:GLBL) last released its quarterly earnings results on Wednesday, August 9th. The energy company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $62.50 million for the quarter, compared to the consensus estimate of $66.33 million. TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. During the same period in the prior year, the business posted $0.01 earnings per share. On average, equities research analysts forecast that TerraForm Global will post ($0.16) EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in GLBL. Teachers Advisors LLC grew its stake in TerraForm Global by 8.3% during the fourth quarter. Teachers Advisors LLC now owns 156,890 shares of the energy company’s stock worth $620,000 after buying an additional 12,000 shares in the last quarter. Bank of Montreal Can grew its stake in TerraForm Global by 130.9% during the first quarter. Bank of Montreal Can now owns 44,496 shares of the energy company’s stock worth $214,000 after buying an additional 25,228 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in TerraForm Global during the first quarter worth about $128,000. Bank of New York Mellon Corp grew its stake in TerraForm Global by 20.0% during the first quarter. Bank of New York Mellon Corp now owns 451,281 shares of the energy company’s stock worth $2,166,000 after buying an additional 75,076 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in TerraForm Global by 101.9% during the first quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock worth $200,000 after buying an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

TerraForm Global Company Profile

TerraForm Global, Inc is a holding company. The Company is a diversified renewable energy company that owns contracted solar and wind power plants. The Company operates through two segments: Solar Energy and Wind Energy. The segments include the Company’s entire portfolio of power plants. The Company’s portfolio consisted of solar and wind power plants located in Brazil, China, India, Malaysia, South Africa, Thailand and Uruguay with an aggregate net capacity of 916.4 megawatts (MW) as of October 31, 2016.

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