-$0.13 EPS Expected for TerraForm Power (TERP) This Quarter

Wall Street analysts expect TerraForm Power (NASDAQ:TERP) to announce ($0.13) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for TerraForm Power’s earnings. The lowest EPS estimate is ($0.20) and the highest is ($0.06). TerraForm Power reported earnings of ($0.20) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 35%. The company is expected to issue its next quarterly earnings report on Friday, October 5th.

On average, analysts expect that TerraForm Power will report full-year earnings of $0.21 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.28. For the next financial year, analysts forecast that the business will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.26) to $0.02. Zacks’ earnings per share averages are an average based on a survey of analysts that cover TerraForm Power.

TerraForm Power (NASDAQ:TERP) last released its quarterly earnings data on Tuesday, May 1st. The solar energy provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.75. The business had revenue of $127.55 million for the quarter, compared to analyst estimates of $145.30 million. TerraForm Power had a negative return on equity of 0.11% and a negative net margin of 8.33%.

Several analysts recently weighed in on TERP shares. ValuEngine raised TerraForm Power from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. BidaskClub raised TerraForm Power from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Royal Bank of Canada started coverage on TerraForm Power in a research note on Wednesday, April 4th. They set an “outperform” rating and a $13.00 price target on the stock. JPMorgan Chase raised TerraForm Power from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a research note on Thursday, May 3rd. Finally, Goldman Sachs lowered TerraForm Power from a “neutral” rating to a “sell” rating in a research note on Thursday, March 15th. Four equities research analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.67.

Several hedge funds have recently made changes to their positions in TERP. Strategic Value Partners LLC acquired a new stake in shares of TerraForm Power during the fourth quarter valued at about $166,302,000. Cyrus Capital Partners L.P. acquired a new stake in shares of TerraForm Power during the fourth quarter valued at about $34,883,000. Ecofin Ltd. boosted its stake in shares of TerraForm Power by 112.5% during the fourth quarter. Ecofin Ltd. now owns 2,934,375 shares of the solar energy provider’s stock valued at $35,095,000 after purchasing an additional 1,553,675 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of TerraForm Power by 11,470.6% during the first quarter. Royal Bank of Canada now owns 904,013 shares of the solar energy provider’s stock valued at $9,699,000 after purchasing an additional 896,200 shares in the last quarter. Finally, New Generation Advisors LLC acquired a new stake in shares of TerraForm Power during the first quarter valued at about $9,493,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:TERP traded down $0.05 during trading hours on Friday, hitting $11.05. The company’s stock had a trading volume of 425,449 shares, compared to its average volume of 587,302. The firm has a market capitalization of $1.64 billion, a PE ratio of -9.13 and a beta of 1.02. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.35. TerraForm Power has a twelve month low of $10.02 and a twelve month high of $14.20.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Thursday, May 31st. 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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