Oppenheimer Holdings Comments on TerraForm Power, Inc.’s Q3 2017 Earnings (TERP)
TerraForm Power, Inc. (NASDAQ:TERP) – Stock analysts at Oppenheimer Holdings dropped their Q3 2017 earnings per share estimates for TerraForm Power in a research note issued on Monday. Oppenheimer Holdings analyst C. Rusch now anticipates that the solar energy provider will post earnings per share of ($0.24) for the quarter, down from their previous estimate of ($0.05). Oppenheimer Holdings also issued estimates for TerraForm Power’s Q4 2017 earnings at ($0.45) EPS and FY2017 earnings at ($1.00) EPS.
TERP has been the topic of several other research reports. Zacks Investment Research upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, September 29th. Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of TerraForm Power in a research note on Sunday, September 3rd. TheStreet upgraded shares of TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.90.
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TerraForm Power (NASDAQ:TERP) opened at 13.23 on Thursday. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.50. The stock has a 50 day moving average of $13.43 and a 200 day moving average of $12.63. The stock’s market cap is $1.65 billion.
TerraForm Power (NASDAQ:TERP) last posted its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.63). The business had revenue of $135.22 million during the quarter. TerraForm Power had a negative return on equity of 5.71% and a negative net margin of 20.92%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new stake in TerraForm Power during the 2nd quarter worth approximately $173,000. Aquamarine Capital Management LLC bought a new stake in TerraForm Power during the 2nd quarter worth approximately $2,513,000. State Street Corp raised its stake in TerraForm Power by 4.1% during the 2nd quarter. State Street Corp now owns 1,602,705 shares of the solar energy provider’s stock worth $19,233,000 after acquiring an additional 63,271 shares during the period. AHL Partners LLP bought a new stake in TerraForm Power during the 2nd quarter worth approximately $411,000. Finally, Tudor Investment Corp ET AL raised its stake in TerraForm Power by 110.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 29,690 shares of the solar energy provider’s stock worth $356,000 after acquiring an additional 15,588 shares during the period. Institutional investors own 80.76% of the company’s stock.
TerraForm Power Company Profile
TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.
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