Zacks: Brokerages Expect 8Point3 Energy Partners LP (CAFD) Will Announce Quarterly Sales of $14.47 Million
Equities analysts expect 8Point3 Energy Partners LP (NASDAQ:CAFD) to announce sales of $14.47 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for 8Point3 Energy Partners’ earnings, with the highest sales estimate coming in at $15.70 million and the lowest estimate coming in at $13.50 million. The company is expected to issue its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that 8Point3 Energy Partners will report full-year sales of $14.47 million for the current financial year, with estimates ranging from $66.70 million to $70.00 million. For the next financial year, analysts anticipate that the business will post sales of $74.90 million per share, with estimates ranging from $67.41 million to $83.50 million. Zacks’ sales calculations are an average based on a survey of research firms that follow 8Point3 Energy Partners.
A number of analysts have commented on CAFD shares. BidaskClub raised 8Point3 Energy Partners from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Guggenheim restated a “hold” rating and issued a $12.00 target price on shares of 8Point3 Energy Partners in a research note on Tuesday, February 6th. Robert W. Baird dropped their price objective on 8Point3 Energy Partners from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Oppenheimer reiterated a “hold” rating on shares of 8Point3 Energy Partners in a research note on Monday, February 5th. Finally, Zacks Investment Research downgraded 8Point3 Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Five investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.45.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAFD. SG Americas Securities LLC bought a new position in 8Point3 Energy Partners in the fourth quarter valued at $103,000. AE Wealth Management LLC bought a new position in 8Point3 Energy Partners in the third quarter valued at $156,000. Quantitative Systematic Strategies LLC bought a new position in 8Point3 Energy Partners in the fourth quarter valued at $195,000. Kayne Anderson Capital Advisors LP bought a new position in 8Point3 Energy Partners in the fourth quarter valued at $205,000. Finally, Goldman Sachs Group Inc. bought a new position in 8Point3 Energy Partners in the second quarter valued at $250,000. 17.48% of the stock is currently owned by institutional investors and hedge funds.
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8Point3 Energy Partners Company Profile
8point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of November 30, 2016, Company’s portfolio comprised interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories.
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