Analysts predict that Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) will announce sales of $128.64 million for the current quarter, according to Zacks. Three analysts have made estimates for Pattern Energy Group’s earnings, with the highest sales estimate coming in at $142.02 million and the lowest estimate coming in at $120.00 million. Pattern Energy Group reported sales of $81.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 58.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Pattern Energy Group will report full year sales of $128.64 million for the current year, with estimates ranging from $420.70 million to $442.64 million. For the next year, analysts forecast that the business will report sales of $574.00 million per share, with estimates ranging from $548.10 million to $598.15 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Pattern Energy Group.
PEGI has been the topic of a number of recent research reports. Bank of America reissued an “underperform” rating and issued a $21.00 target price on shares of Pattern Energy Group in a research report on Tuesday, October 24th. Wells Fargo & Co lowered their price target on Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. BMO Capital Markets lowered their price target on Pattern Energy Group from $28.50 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Raymond James Financial lowered their price target on Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 13th. Finally, Zacks Investment Research raised Pattern Energy Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.79.
Shares of Pattern Energy Group (NASDAQ PEGI) traded up $0.17 during trading on Thursday, reaching $19.28. The company had a trading volume of 727,036 shares, compared to its average volume of 1,042,538. Pattern Energy Group has a 1-year low of $18.15 and a 1-year high of $26.56. The firm has a market cap of $1,887.63, a price-to-earnings ratio of 482.12, a PEG ratio of 3.29 and a beta of 0.88. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51.
In related news, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $22.53, for a total transaction of $54,072.00. Following the transaction, the insider now directly owns 141,011 shares of the company’s stock, valued at approximately $3,176,977.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 7,200 shares of company stock worth $155,112 over the last three months. 1.60% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Pattern Energy Group by 7.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 451 shares during the last quarter. Advisor Group Inc. boosted its stake in Pattern Energy Group by 31.0% in the 2nd quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 1,193 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in Pattern Energy Group by 16.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 18,153 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 2,563 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Pattern Energy Group by 7.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 41,791 shares of the utilities provider’s stock valued at $996,000 after purchasing an additional 2,824 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Pattern Energy Group by 2.0% in the 2nd quarter. California Public Employees Retirement System now owns 156,300 shares of the utilities provider’s stock valued at $3,726,000 after purchasing an additional 3,000 shares during the period. 76.86% of the stock is currently owned by institutional investors and hedge funds.
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Pattern Energy Group Company Profile
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.
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