Brokerages Expect Pattern Energy Group Inc (PEGI) to Announce $0.07 Earnings Per Share

Equities analysts expect that Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) will report earnings of $0.07 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Pattern Energy Group’s earnings. The lowest EPS estimate is ($0.05) and the highest is $0.19. Pattern Energy Group posted earnings per share of $0.11 during the same quarter last year, which would indicate a negative year over year growth rate of 36.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 7th.

On average, analysts expect that Pattern Energy Group will report full-year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.21 to $2.01. For the next financial year, analysts expect that the company will report earnings of $0.46 per share, with EPS estimates ranging from ($0.05) to $1.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its quarterly earnings results on Monday, November 5th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.09). Pattern Energy Group had a net margin of 30.81% and a return on equity of 7.35%. The business had revenue of $118.39 million during the quarter, compared to analysts’ expectations of $117.22 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year.

PEGI has been the topic of a number of analyst reports. Wells Fargo & Co restated a “buy” rating and issued a $22.00 price target (up from $21.00) on shares of Pattern Energy Group in a research note on Monday, September 17th. BidaskClub downgraded Pattern Energy Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Bank of America downgraded Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research note on Friday, July 13th. Zacks Investment Research upgraded Pattern Energy Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Monday, July 16th. Finally, TheStreet upgraded Pattern Energy Group from a “c+” rating to a “b-” rating in a research note on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Pattern Energy Group presently has an average rating of “Hold” and a consensus price target of $22.42.

Shares of Pattern Energy Group stock traded down $0.04 during trading on Monday, reaching $20.55. The company’s stock had a trading volume of 1,023,879 shares, compared to its average volume of 1,270,964. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.54 and a quick ratio of 0.91. Pattern Energy Group has a 12-month low of $16.58 and a 12-month high of $22.79. The company has a market cap of $2.05 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be issued a dividend of $0.422 per share. The ex-dividend date is Friday, December 28th. This represents a $1.69 annualized dividend and a yield of 8.21%. Pattern Energy Group’s dividend payout ratio is presently 889.47%.

A number of hedge funds have recently modified their holdings of PEGI. Chicago Partners Investment Group LLC raised its holdings in Pattern Energy Group by 116.0% during the second quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 3,049 shares during the last quarter. Macquarie Group Ltd. acquired a new position in Pattern Energy Group during the second quarter worth $124,000. CAPROCK Group Inc. acquired a new position in Pattern Energy Group during the third quarter worth $204,000. Kayne Anderson Capital Advisors LP acquired a new position in Pattern Energy Group during the third quarter worth $228,000. Finally, Xact Kapitalforvaltning AB raised its holdings in Pattern Energy Group by 28.1% during the second quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 3,700 shares during the last quarter. 90.18% of the stock is owned by hedge funds and other institutional investors.

About Pattern Energy Group

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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