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

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

On average, analysts expect that TerraForm Power, Inc. New will report full-year earnings of ($1.02) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($0.60). For the next fiscal year, analysts expect that the firm will post earnings of ($0.40) per share, with EPS estimates ranging from ($0.68) to $0.12. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover TerraForm Power, Inc. New.

TerraForm Power, Inc. New (NASDAQ:TERP) last released its quarterly 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 net margin of 21.83% and a negative return on equity of 5.87%. The business had revenue of $153.43 million during the quarter, compared to analysts’ expectations of $152.18 million.

TERP has been the topic of a number of research reports. Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of TerraForm Power, Inc. New in a report on Sunday, September 3rd. Zacks Investment Research raised TerraForm Power, Inc. New from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. TheStreet raised TerraForm Power, Inc. New from a “d” rating to a “c-” rating in a report on Monday, October 2nd. J P Morgan Chase & Co reissued a “neutral” rating and issued a $13.00 price objective on shares of TerraForm Power, Inc. New in a report on Thursday, October 19th. Finally, Bank of America initiated 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. TerraForm Power, Inc. New currently has a consensus rating of “Hold” and an average target price of $13.58.

Shares of TerraForm Power, Inc. New (NASDAQ TERP) opened at $12.01 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84. TerraForm Power, Inc. New has a 12 month low of $10.93 and a 12 month high of $14.20.

In related news, major shareholder Brookfield Asset Management In sold 625,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $12.95, for a total transaction of $8,093,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 34.55% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of TERP. Vanguard Group Inc. boosted its position in TerraForm Power, Inc. New by 1.8% during the second quarter. Vanguard Group Inc. now owns 7,330,136 shares of the solar energy provider’s stock worth $87,961,000 after purchasing an additional 132,454 shares in the last quarter. Baillie Gifford & Co. boosted its position in TerraForm Power, Inc. New by 35.6% during the third quarter. Baillie Gifford & Co. now owns 2,393,500 shares of the solar energy provider’s stock worth $31,642,000 after purchasing an additional 628,688 shares in the last quarter. State Street Corp boosted its position in TerraForm Power, Inc. New by 4.1% during the second quarter. State Street Corp now owns 1,602,705 shares of the solar energy provider’s stock worth $19,233,000 after purchasing an additional 63,271 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in TerraForm Power, Inc. New by 9.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 359,708 shares of the solar energy provider’s stock worth $4,756,000 after purchasing an additional 32,337 shares in the last quarter. Finally, Aquamarine Capital Management LLC purchased a new position in TerraForm Power, Inc. New during the second quarter worth approximately $2,513,000. 47.02% of the stock is currently owned by hedge funds and other institutional investors.

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TerraForm Power, Inc. New Company Profile

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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