Zacks: Analysts Anticipate Pattern Energy Group (PEGI) Will Announce Quarterly Sales of $145.17 Million

Brokerages expect that Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) will report sales of $145.17 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Pattern Energy Group’s earnings, with the lowest sales estimate coming in at $131.80 million and the highest estimate coming in at $153.30 million. Pattern Energy Group posted sales of $100.83 million in the same quarter last year, which suggests a positive year-over-year growth rate of 44%. The company is scheduled to announce its next quarterly earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Pattern Energy Group will report full year sales of $145.17 million for the current year, with estimates ranging from $447.96 million to $585.36 million. For the next year, analysts anticipate that the firm will post sales of $612.37 million per share, with estimates ranging from $529.55 million to $790.36 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Pattern Energy Group.

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Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its earnings results on Thursday, March 1st. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $110.70 million for the quarter, compared to the consensus estimate of $126.11 million. Pattern Energy Group had a positive return on equity of 0.34% and a negative net margin of 4.35%. The firm’s revenue was up 36.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS.



Several research firms have recently commented on PEGI. National Bank Financial decreased their price objective on Pattern Energy Group from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Zacks Investment Research downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Pattern Energy Group in a research report on Tuesday, February 6th. Williams Capital downgraded Pattern Energy Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $28.00 to $19.00 in a research report on Friday, March 2nd. Finally, UBS downgraded Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.35.

Shares of NASDAQ PEGI traded down $0.10 during midday trading on Friday, hitting $17.55. 425,102 shares of the stock traded hands, compared to its average volume of 1,036,919. The company has a market cap of $1,679.36, a price-to-earnings ratio of 92.68, a P/E/G ratio of 2.38 and a beta of 0.97. Pattern Energy Group has a one year low of $16.58 and a one year high of $26.56. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.80.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.422 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.69 dividend on an annualized basis and a yield of 9.62%. Pattern Energy Group’s dividend payout ratio is currently 889.47%.

In other Pattern Energy Group news, Director Douglas G. Hall acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average price of $17.08 per share, for a total transaction of $85,400.00. Following the acquisition, the director now owns 39,982 shares in the company, valued at approximately $682,892.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Esben W. Pedersen sold 2,400 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $20.51, for a total value of $49,224.00. Following the sale, the insider now owns 132,128 shares of the company’s stock, valued at approximately $2,709,945.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Pattern Energy Group by 139.6% during the 4th quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 3,110 shares during the period. Alliancebernstein L.P. lifted its stake in Pattern Energy Group by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 204,923 shares of the utilities provider’s stock valued at $4,404,000 after buying an additional 3,173 shares in the last quarter. American International Group Inc. lifted its stake in Pattern Energy Group by 8.1% in the 3rd quarter. American International Group Inc. now owns 47,199 shares of the utilities provider’s stock valued at $1,137,000 after buying an additional 3,529 shares in the last quarter. Legal & General Group Plc lifted its stake in Pattern Energy Group by 15.8% in the 3rd quarter. Legal & General Group Plc now owns 29,125 shares of the utilities provider’s stock valued at $706,000 after buying an additional 3,974 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Pattern Energy Group by 25.0% in the 4th quarter. Raymond James & Associates now owns 20,031 shares of the utilities provider’s stock valued at $430,000 after buying an additional 4,003 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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Pattern Energy Group Company Profile

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

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