TerraForm Power (TERP) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

TerraForm Power (NASDAQ:TERP) issued its quarterly earnings results on Thursday. 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), Briefing.com reports. TerraForm Power had a negative net margin of 13.02% and a negative return on equity of 0.29%. The business had revenue of $246.06 million during the quarter, compared to the consensus estimate of $233.26 million. During the same quarter in the previous year, the business posted ($0.31) EPS. The company’s revenue for the quarter was up 60.4% on a year-over-year basis.

Shares of NASDAQ TERP traded down $0.77 during mid-day trading on Friday, hitting $11.07. 1,123,957 shares of the stock traded hands, compared to its average volume of 463,667. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.91. TerraForm Power has a twelve month low of $9.90 and a twelve month high of $13.21. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -9.14 and a beta of 0.87.

A hedge fund recently raised its stake in TerraForm Power stock. Bank of New York Mellon Corp lifted its position in shares of TerraForm Power Inc (NASDAQ:TERP) by 41.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,653 shares of the solar energy provider’s stock after acquiring an additional 81,044 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.19% of TerraForm Power worth $3,225,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 60.60% of the company’s stock.

Several equities analysts have recently issued reports on the company. BidaskClub upgraded TerraForm Power from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. ValuEngine upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research note on Wednesday. MED assumed coverage on TerraForm Power in a research note on Friday, September 28th. They issued a “hold” rating and a $12.00 price target on the stock. They noted that the move was a valuation call. Deutsche Bank reiterated a “hold” rating and issued a $12.00 price target on shares of TerraForm Power in a research note on Friday, September 28th. Finally, Zacks Investment Research lowered TerraForm Power from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $12.44.

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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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Earnings History for TerraForm Power (NASDAQ:TERP)

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