$138.25 Million in Sales Expected for Pattern Energy Group Inc (NASDAQ:PEGI) This Quarter

Wall Street analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to post sales of $138.25 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Pattern Energy Group’s earnings, with the lowest sales estimate coming in at $118.40 million and the highest estimate coming in at $158.09 million. Pattern Energy Group posted sales of $118.39 million during the same quarter last year, which suggests a positive year over year growth rate of 16.8%. The business is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Pattern Energy Group will report full-year sales of $540.78 million for the current financial year, with estimates ranging from $486.00 million to $637.31 million. For the next fiscal year, analysts anticipate that the firm will post sales of $582.56 million, with estimates ranging from $548.00 million to $649.06 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.11). Pattern Energy Group had a negative net margin of 12.36% and a negative return on equity of 3.00%. The company had revenue of $135.00 million during the quarter, compared to analyst estimates of $137.90 million. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s revenue was down .7% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. Raymond James cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. TheStreet cut shares of Pattern Energy Group from a “b-” rating to a “c” rating in a report on Tuesday, May 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 target price on shares of Pattern Energy Group in a report on Thursday, August 8th. Wells Fargo & Co cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating and upped their target price for the company from $24.00 to $26.00 in a report on Wednesday. Finally, Bank of America upped their target price on shares of Pattern Energy Group from $23.00 to $23.50 and gave the company a “neutral” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.93.

NASDAQ PEGI traded up $0.70 during trading hours on Friday, hitting $26.37. The company had a trading volume of 1,257,076 shares, compared to its average volume of 802,170. The business has a 50 day moving average of $23.51 and a 200-day moving average of $22.30. Pattern Energy Group has a 1-year low of $17.23 and a 1-year high of $26.49. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $2.53 billion, a PE ratio of 18.19 and a beta of 1.05.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.422 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.69 annualized dividend and a yield of 6.40%. Pattern Energy Group’s dividend payout ratio is currently 116.55%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trilogy Capital Inc. purchased a new position in Pattern Energy Group during the first quarter worth about $214,000. Bank of Montreal Can raised its holdings in Pattern Energy Group by 512.3% during the first quarter. Bank of Montreal Can now owns 615,965 shares of the utilities provider’s stock worth $13,551,000 after purchasing an additional 515,374 shares in the last quarter. Alps Advisors Inc. raised its holdings in Pattern Energy Group by 93.7% during the first quarter. Alps Advisors Inc. now owns 78,395 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 37,916 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in Pattern Energy Group during the first quarter worth about $220,000. Finally, Osborn Williams & Donohoe LLC raised its holdings in Pattern Energy Group by 44.2% during the first quarter. Osborn Williams & Donohoe LLC now owns 35,900 shares of the utilities provider’s stock worth $810,000 after purchasing an additional 11,000 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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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