TerraForm Power (TERP) Upgraded by BidaskClub to Buy

TerraForm Power (NASDAQ:TERP) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other analysts have also issued reports on TERP. BMO Capital Markets assumed coverage on TerraForm Power in a research note on Wednesday, July 25th. They issued a “market perform” rating and a $11.50 target price on the stock. Zacks Investment Research lowered TerraForm Power from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. ValuEngine upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. MED assumed coverage on TerraForm Power in a research note on Friday, September 28th. They issued a “hold” rating and a $12.00 target price on the stock. They noted that the move was a valuation call. Finally, Deutsche Bank restated a “hold” rating and issued a $12.00 target price on shares of TerraForm Power in a research note on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.44.

Shares of TERP opened at $11.31 on Thursday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -9.35 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.93 and a current ratio of 0.93. TerraForm Power has a 1 year low of $9.90 and a 1 year high of $13.21.

TerraForm Power (NASDAQ:TERP) last issued its earnings results on Thursday, November 8th. 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 firm had revenue of $246.06 million during the quarter, compared to the consensus estimate of $233.26 million. TerraForm Power had a negative net margin of 12.29% and a negative return on equity of 0.48%. The business’s quarterly revenue was up 60.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. Research analysts anticipate that TerraForm Power will post 0.2 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Zacks Investment Management bought a new stake in shares of TerraForm Power during the 2nd quarter valued at $594,000. Bank of Montreal Can raised its stake in shares of TerraForm Power by 35.7% during the 3rd quarter. Bank of Montreal Can now owns 70,601 shares of the solar energy provider’s stock valued at $815,000 after purchasing an additional 18,557 shares during the period. Baird Financial Group Inc. raised its stake in shares of TerraForm Power by 25.1% during the 2nd quarter. Baird Financial Group Inc. now owns 237,041 shares of the solar energy provider’s stock valued at $2,773,000 after purchasing an additional 47,526 shares during the period. Bank of New York Mellon Corp raised its stake in shares of TerraForm Power by 41.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 275,653 shares of the solar energy provider’s stock valued at $3,225,000 after purchasing an additional 81,044 shares during the period. Finally, Aperio Group LLC raised its stake in shares of TerraForm Power by 245.9% during the 2nd quarter. Aperio Group LLC now owns 69,784 shares of the solar energy provider’s stock valued at $816,000 after purchasing an additional 49,611 shares during the period. Institutional investors own 62.56% of the company’s stock.

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.

Further Reading: How is the S&P 500 index different from the DJIA?

Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

Receive News & Ratings for TerraForm Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TerraForm Power and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply