TerraForm Global, Inc. (GLBL) Stock Rating Upgraded by Zacks Investment Research
TerraForm Global, Inc. (NASDAQ:GLBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $5.25 price objective on the energy company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.53% from the company’s current price.
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. “
A number of other equities analysts have also recently weighed in on GLBL. BidaskClub cut shares of TerraForm Global from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. ValuEngine cut shares of TerraForm Global from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.13.
Shares of TerraForm Global (GLBL) opened at 4.75 on Friday. TerraForm Global has a 52-week low of $3.40 and a 52-week high of $5.10. The firm’s market cap is $536.61 million. The company’s 50-day moving average is $4.85 and its 200 day moving average is $4.85.
TerraForm Global (NASDAQ:GLBL) last posted its quarterly earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. The company had revenue of $62.50 million for the quarter, compared to analyst estimates of $66.33 million. During the same period last year, the company earned $0.01 earnings per share. On average, analysts expect that TerraForm Global will post ($0.16) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of GLBL. BlueCrest Capital Management Ltd acquired a new position in shares of TerraForm Global during the 2nd quarter worth $151,000. Two Sigma Securities LLC boosted its position in shares of TerraForm Global by 122.7% in the 1st quarter. Two Sigma Securities LLC now owns 38,656 shares of the energy company’s stock worth $186,000 after buying an additional 21,295 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of TerraForm Global by 101.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock worth $200,000 after buying an additional 21,000 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of TerraForm Global by 4.2% in the 1st quarter. Global X Management Co. LLC now owns 43,646 shares of the energy company’s stock worth $210,000 after buying an additional 1,761 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of TerraForm Global by 130.9% in the 1st quarter. Bank of Montreal Can now owns 44,496 shares of the energy company’s stock worth $214,000 after buying an additional 25,228 shares in the last quarter. 49.78% of the stock is currently owned by institutional investors and hedge funds.
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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