ValuEngine Upgrades TerraForm Power (TERP) to Hold

TerraForm Power (NASDAQ:TERP) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.

Other analysts have also recently issued reports about the company. BidaskClub raised TerraForm Power from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Oppenheimer raised TerraForm Power from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Wednesday, August 15th. UBS Group raised TerraForm Power from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 15th. Goldman Sachs Group raised TerraForm Power from a “sell” rating to a “neutral” rating and set a $11.00 target price on the stock in a research note on Wednesday, September 12th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $12.00 price objective on shares of TerraForm Power in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. TerraForm Power presently has a consensus rating of “Hold” and a consensus target price of $12.44.

NASDAQ TERP opened at $11.83 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $2.42 billion, a P/E ratio of -9.78 and a beta of 0.87. TerraForm Power has a 1 year low of $9.90 and a 1 year high of $13.21.

TerraForm Power (NASDAQ:TERP) last posted its earnings results on Friday, November 9th. The solar energy provider reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.11). The business had revenue of $246.06 million during the quarter, compared to the consensus estimate of $233.26 million. TerraForm Power had a negative return on equity of 0.29% and a negative net margin of 13.02%. The firm’s revenue for the quarter was up 60.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) earnings per share. As a group, analysts anticipate that TerraForm Power will post 0.43 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of TERP. United Services Automobile Association bought a new stake in TerraForm Power during the 2nd quarter valued at approximately $119,000. Amalgamated Bank bought a new stake in TerraForm Power during the 2nd quarter valued at approximately $119,000. Jane Street Group LLC bought a new stake in TerraForm Power during the 2nd quarter valued at approximately $121,000. Cubist Systematic Strategies LLC boosted its position in TerraForm Power by 314.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock valued at $127,000 after acquiring an additional 8,952 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in TerraForm Power during the 2nd quarter valued at approximately $158,000. 60.60% of the stock is currently owned by institutional investors and hedge funds.

TerraForm Power Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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