Pattern Energy Group Inc (NASDAQ:PEGI) Expected to Announce Earnings of $0.16 Per Share

Equities analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to post earnings of $0.16 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Pattern Energy Group’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at ($0.17). Pattern Energy Group reported earnings per share of $0.34 during the same quarter last year, which suggests a negative year over year growth rate of 52.9%. The business is expected to report its next earnings results on Thursday, August 8th.

On average, analysts expect that Pattern Energy Group will report full-year earnings of ($0.11) per share for the current fiscal year, with EPS estimates ranging from ($0.64) to $0.40. For the next year, analysts forecast that the business will post earnings of $0.71 per share, with EPS estimates ranging from ($0.46) to $2.02. Zacks Investment Research’s EPS 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 posted its earnings results on Friday, May 10th. The utilities provider reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.43). The firm had revenue of $135.00 million for the quarter, compared to the consensus estimate of $143.38 million. Pattern Energy Group had a negative net margin of 4.52% and a negative return on equity of 1.06%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share.

A number of research analysts have recently commented on PEGI shares. Royal Bank of Canada reiterated an “underperform” rating and set a GBX 215 ($2.81) target price on shares of in a research report on Wednesday, June 26th. BidaskClub upgraded Waterstone Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. Raymond James restated a “neutral” rating and set a $35.00 price target on shares of Stantec in a report on Monday, May 13th. Finally, TheStreet upgraded Third Point Reinsurance from a “d+” rating to a “c-” rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $22.29.

Hedge funds have recently added to or reduced their stakes in the business. Investors Research Corp purchased a new stake in Pattern Energy Group in the first quarter worth $26,000. Manchester Capital Management LLC purchased a new stake in Pattern Energy Group in the first quarter worth $31,000. Reilly Financial Advisors LLC purchased a new stake in Pattern Energy Group in the first quarter worth $33,000. Flagship Harbor Advisors LLC purchased a new stake in Pattern Energy Group in the first quarter worth $41,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Pattern Energy Group in the first quarter worth $44,000. Institutional investors and hedge funds own 81.78% of the company’s stock.

Shares of NASDAQ PEGI remained flat at $$23.53 during midday trading on Monday. The stock had a trading volume of 316,581 shares, compared to its average volume of 748,314. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.31 billion, a P/E ratio of 16.23 and a beta of 1.06. Pattern Energy Group has a 52-week low of $17.23 and a 52-week high of $23.88. The company’s 50 day moving average is $22.89.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.422 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.69 dividend on an annualized basis and a yield of 7.17%. Pattern Energy Group’s payout ratio is 116.55%.

Pattern Energy Group Company Profile

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

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Earnings History and Estimates for Pattern Energy Group (NASDAQ:PEGI)

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