Zacks: Analysts Anticipate TerraForm Power Inc (TERP) Will Post Quarterly Sales of $242.93 Million

Wall Street brokerages predict that TerraForm Power Inc (NASDAQ:TERP) will report $242.93 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for TerraForm Power’s earnings. The highest sales estimate is $287.50 million and the lowest is $215.00 million. TerraForm Power posted sales of $153.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 58.3%. The firm is scheduled to issue its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that TerraForm Power will report full-year sales of $768.79 million for the current year, with estimates ranging from $728.00 million to $825.66 million. For the next year, analysts expect that the company will post sales of $900.84 million per share, with estimates ranging from $826.80 million to $1.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover TerraForm Power.

TerraForm Power (NASDAQ:TERP) last posted its earnings results on Monday, August 13th. The solar energy provider reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $179.89 million for the quarter, compared to analyst estimates of $162.69 million. TerraForm Power had a negative net margin of 13.02% and a negative return on equity of 0.29%. TerraForm Power’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS.

Several analysts have weighed in on TERP shares. BidaskClub cut TerraForm Power from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 25th. ValuEngine downgraded shares of TerraForm Power from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. BMO Capital Markets started coverage on shares of TerraForm Power in a research report on Wednesday, July 25th. They issued a “market perform” rating and a $11.50 price objective on the stock. Goldman Sachs Group raised shares of TerraForm Power from a “sell” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research report on Wednesday, September 12th. Finally, UBS Group raised shares of TerraForm Power from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. TerraForm Power currently has a consensus rating of “Hold” and an average price target of $13.19.

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in TerraForm Power by 11.5% during the 1st quarter. Rhumbline Advisers now owns 46,480 shares of the solar energy provider’s stock worth $499,000 after buying an additional 4,790 shares during the period. California Public Employees Retirement System grew its position in shares of TerraForm Power by 8.3% in the 2nd quarter. California Public Employees Retirement System now owns 67,204 shares of the solar energy provider’s stock valued at $786,000 after buying an additional 5,130 shares during the last quarter. Northern Trust Corp grew its position in shares of TerraForm Power by 1.3% in the 1st quarter. Northern Trust Corp now owns 471,681 shares of the solar energy provider’s stock valued at $5,060,000 after buying an additional 5,930 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of TerraForm Power by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 234,729 shares of the solar energy provider’s stock valued at $2,519,000 after buying an additional 6,507 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of TerraForm Power by 58.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,639 shares of the solar energy provider’s stock valued at $218,000 after buying an additional 6,840 shares during the last quarter. Institutional investors and hedge funds own 60.42% of the company’s stock.

NASDAQ:TERP traded down $0.04 on Thursday, hitting $11.86. The stock had a trading volume of 1,658,887 shares, compared to its average volume of 689,521. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -9.80 and a beta of 0.95. TerraForm Power has a 1-year low of $9.90 and a 1-year high of $14.20.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 15th. Stockholders of record on Saturday, September 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Thursday, August 30th. TerraForm Power’s 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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