TerraForm Power Inc (TERP) Expected to Post Earnings of -$0.13 Per Share

Brokerages forecast that TerraForm Power Inc (NASDAQ:TERP) will announce ($0.13) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for TerraForm Power’s earnings, with estimates ranging from ($0.20) to ($0.06). TerraForm Power reported earnings of ($0.20) per share in the same quarter last year, which suggests a positive year over year growth rate of 35%. The firm is scheduled to announce its next 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 year, analysts expect that the business will report earnings of ($0.12) per share, with EPS estimates ranging from ($0.26) to $0.02. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for TerraForm Power.

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

TERP has been the subject of a number of recent analyst reports. Goldman Sachs Group downgraded TerraForm Power from a “neutral” rating to a “sell” rating in a report on Thursday, March 15th. BidaskClub upgraded TerraForm Power from a “strong sell” rating to a “sell” rating in a report on Saturday, March 24th. Royal Bank of Canada initiated coverage on TerraForm Power in a report on Wednesday, April 4th. They issued an “outperform” rating and a $13.00 price objective for the company. JPMorgan Chase & Co. upgraded TerraForm Power from a “neutral” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Thursday, May 3rd. Finally, ValuEngine upgraded TerraForm Power from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $13.67.

In other TerraForm Power news, major shareholder Brookfield Asset Management In purchased 60,975,609 shares of the stock in a transaction on Monday, June 11th. The stock was bought at an average cost of $10.66 per share, for a total transaction of $649,999,991.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in TERP. Strategic Value Partners LLC bought a new stake in shares of TerraForm Power in the fourth quarter worth about $166,302,000. Cyrus Capital Partners L.P. bought a new stake in shares of TerraForm Power in the fourth quarter worth about $34,883,000. Royal Bank of Canada increased its holdings in shares of TerraForm Power by 11,470.6% in the first quarter. Royal Bank of Canada now owns 904,013 shares of the solar energy provider’s stock worth $9,699,000 after acquiring an additional 896,200 shares in the last quarter. New Generation Advisors LLC bought a new stake in shares of TerraForm Power in the first quarter worth about $9,493,000. Finally, Millennium Management LLC bought a new stake in shares of TerraForm Power in the fourth quarter worth about $7,574,000. Institutional investors own 47.48% of the company’s stock.

TerraForm Power traded up $0.10, reaching $11.75, on Friday, according to MarketBeat Ratings. The company had a trading volume of 3,749,648 shares, compared to its average volume of 645,316. The company has a market capitalization of $1.73 billion, a PE ratio of -9.71 and a beta of 1.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.41. TerraForm Power has a 52 week low of $10.02 and a 52 week high of $14.20.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.76 annualized dividend and a dividend yield of 6.47%. TerraForm Power’s dividend payout ratio (DPR) is currently -62.81%.

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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