TerraForm Power Inc (NASDAQ:TERP) has been assigned a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.19.
A number of equities analysts have commented on TERP shares. BidaskClub downgraded shares of TerraForm Power from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 25th. ValuEngine downgraded shares of TerraForm Power from a “hold” rating to a “sell” rating in a report on Friday, August 17th. BMO Capital Markets started coverage on shares of TerraForm Power in a report on Wednesday, July 25th. They issued a “market perform” rating and a $11.50 price objective for the company. Finally, Goldman Sachs Group raised shares of TerraForm Power from a “sell” rating to a “neutral” rating and set a $11.00 price objective for the company in a report on Wednesday.
Institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in shares of TerraForm Power during the second quarter valued at $119,000. United Services Automobile Association acquired a new position in shares of TerraForm Power during the second quarter valued at $119,000. Jane Street Group LLC acquired a new position in shares of TerraForm Power during the second quarter valued at $121,000. Cubist Systematic Strategies LLC raised its stake in shares of TerraForm Power by 314.4% during the first quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock valued at $127,000 after purchasing an additional 8,952 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of TerraForm Power during the second quarter valued at about $158,000. 60.42% of the stock is owned by hedge funds and other institutional investors.
Shares of TERP stock traded up $0.27 during mid-day trading on Thursday, reaching $11.83. 707,300 shares of the company were exchanged, compared to its average volume of 614,990. The company has a market capitalization of $2.31 billion, a P/E ratio of -9.78 and a beta of 0.95. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.91. TerraForm Power has a fifty-two week low of $9.90 and a fifty-two week high of $14.20.
TerraForm Power (NASDAQ:TERP) last released its quarterly earnings data on Monday, August 13th. The solar energy provider reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm had revenue of $179.89 million during the quarter, compared to the consensus estimate of $162.69 million. TerraForm Power had a negative net margin of 13.02% and a negative return on equity of 0.29%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. research analysts predict that TerraForm Power will post 0.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Shareholders of record on Saturday, September 1st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Thursday, August 30th. TerraForm Power’s dividend payout ratio is presently -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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