TerraForm Global, Inc. (GLBL) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of TerraForm Global, Inc. (NASDAQ:GLBL) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $5.75 price target on the energy company’s stock.
According to Zacks, “TerraForm Global, Inc. is a diversified renewable energy company. It owns and operates clean energy projects consists of solar, wind and hydro-electric generation assets. The Company’s project resides primarily in China, Brazil, India, South Africa, Honduras, Costa Rica, Nicaragua, Peru, Uruguay, Malaysia and Thailand. TerraForm Global, Inc. is headquartered in Bethesda, Maryland. “
Separately, BidaskClub raised shares of TerraForm Global from a hold rating to a buy rating in a research note on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. TerraForm Global has an average rating of Hold and a consensus price target of $5.38.
Shares of TerraForm Global (NASDAQ GLBL) opened at 4.85 on Monday. The firm’s market capitalization is $547.90 million. TerraForm Global has a 52-week low of $3.25 and a 52-week high of $5.10. The stock’s 50 day moving average is $4.94 and its 200-day moving average is $4.50.
TerraForm Global (NASDAQ:GLBL) last issued its quarterly earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $62.50 million during the quarter, compared to analyst estimates of $66.33 million. TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. During the same period in the prior year, the company posted $0.01 earnings per share. On average, equities analysts forecast that TerraForm Global will post ($0.16) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of GLBL. Teachers Advisors LLC lifted its stake in TerraForm Global by 8.3% during the fourth quarter. Teachers Advisors LLC now owns 156,890 shares of the energy company’s stock valued at $620,000 after purchasing an additional 12,000 shares during the last quarter. Bank of Montreal Can lifted its stake in TerraForm Global by 130.9% during the first quarter. Bank of Montreal Can now owns 44,496 shares of the energy company’s stock valued at $214,000 after purchasing an additional 25,228 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in TerraForm Global during the first quarter valued at approximately $128,000. Bank of New York Mellon Corp lifted its stake in TerraForm Global by 20.0% during the first quarter. Bank of New York Mellon Corp now owns 451,281 shares of the energy company’s stock valued at $2,166,000 after purchasing an additional 75,076 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in TerraForm Global by 101.9% during the first quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock valued at $200,000 after purchasing an additional 21,000 shares during the last quarter. 76.82% of the stock is owned by institutional investors.
TerraForm Global Company Profile
TerraForm Global, Inc is a holding company. The Company is a diversified renewable energy company that owns contracted solar and wind power plants. The Company operates through two segments: Solar Energy and Wind Energy. The segments include the Company’s entire portfolio of power plants. The Company’s portfolio consisted of solar and wind power plants located in Brazil, China, India, Malaysia, South Africa, Thailand and Uruguay with an aggregate net capacity of 916.4 megawatts (MW) as of October 31, 2016.
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