Zacks: Brokerages Anticipate Pattern Energy Group Inc (NASDAQ:PEGI) Will Post Quarterly Sales of $152.95 Million
Brokerages expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to post $152.95 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pattern Energy Group’s earnings. The highest sales estimate is $157.86 million and the lowest is $143.60 million. Pattern Energy Group reported sales of $139.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The company is expected to report its next earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Pattern Energy Group will report full-year sales of $569.48 million for the current fiscal year, with estimates ranging from $519.00 million to $637.31 million. For the next financial year, analysts forecast that the firm will post sales of $590.59 million, with estimates ranging from $548.00 million to $649.06 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Pattern Energy Group.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings results on Friday, May 10th. The utilities provider reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.43). Pattern Energy Group had a negative net margin of 4.52% and a negative return on equity of 1.06%. The company had revenue of $135.00 million for the quarter, compared to analysts’ expectations of $143.38 million. During the same quarter in the prior year, the business posted $1.32 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year.
NASDAQ:PEGI remained flat at $$23.53 on Wednesday. The company’s stock had a trading volume of 316,581 shares, compared to its average volume of 748,314. Pattern Energy Group has a 12 month low of $17.23 and a 12 month high of $23.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 16.23 and a beta of 1.06. The firm has a 50-day moving average of $22.89.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.422 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.69 dividend on an annualized basis and a yield of 7.17%. Pattern Energy Group’s payout ratio is currently 116.55%.
A number of institutional investors have recently modified their holdings of PEGI. AE Wealth Management LLC acquired a new stake in shares of Pattern Energy Group during the second quarter worth $2,619,000. Flagship Harbor Advisors LLC raised its stake in Pattern Energy Group by 142.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 4,602 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 2,703 shares in the last quarter. NEXT Financial Group Inc acquired a new position in shares of Pattern Energy Group in the 2nd quarter valued at approximately $96,000. Nisa Investment Advisors LLC raised its position in shares of Pattern Energy Group by 2.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 67,575 shares of the utilities provider’s stock valued at $1,560,000 after buying an additional 1,300 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Pattern Energy Group by 49.3% in the 1st quarter. First Trust Advisors LP now owns 302,137 shares of the utilities provider’s stock valued at $6,647,000 after buying an additional 99,799 shares in the last quarter. 81.78% of the stock is currently owned by hedge funds and other institutional investors.
Pattern Energy Group Company Profile
Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.
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