$0.01 Earnings Per Share Expected for Pattern Energy Group Inc (PEGI) This Quarter

Wall Street analysts forecast that Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) will announce earnings per share of $0.01 for the current quarter, Zacks reports. Three analysts have made estimates for Pattern Energy Group’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at ($0.18). Pattern Energy Group reported earnings of $1.32 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 99.2%. The firm is scheduled to issue its next earnings results on Thursday, May 9th.

On average, analysts expect that Pattern Energy Group will report full-year earnings of $0.27 per share for the current financial year, with EPS estimates ranging from ($0.64) to $1.37. For the next fiscal year, analysts forecast that the firm will report earnings of $0.23 per share, with EPS estimates ranging from ($0.46) to $0.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its earnings results on Friday, March 1st. The utilities provider reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.34). Pattern Energy Group had a net margin of 29.62% and a return on equity of 6.45%. The business had revenue of $113.00 million for the quarter, compared to the consensus estimate of $139.72 million. During the same quarter last year, the firm posted ($0.08) EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis.

A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Pattern Energy Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. BMO Capital Markets cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a report on Friday, February 1st. Macquarie cut shares of Pattern Energy Group from a “neutral” rating to an “underperform” rating in a report on Monday, February 4th. ValuEngine upgraded shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, December 15th. Finally, Industrial Alliance Securities cut shares of Pattern Energy Group to a “hold” rating in a report on Monday, December 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Shares of PEGI stock traded up $0.13 during mid-day trading on Friday, reaching $22.00. 740,699 shares of the company’s stock traded hands, compared to its average volume of 863,906. Pattern Energy Group has a 12 month low of $16.78 and a 12 month high of $22.40. The stock has a market cap of $2.14 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.97 and a beta of 1.04. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.94.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.422 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date of this dividend is Thursday, March 28th. Pattern Energy Group’s payout ratio is 116.55%.

In related news, SVP Christopher M. Shugart sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the transaction, the senior vice president now owns 64,584 shares in the company, valued at approximately $1,420,848. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Esben W. Pedersen sold 1,200 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $21.12, for a total transaction of $25,344.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,543 shares of company stock worth $267,842. 1.70% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Pattern Energy Group by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,397,976 shares of the utilities provider’s stock valued at $166,869,000 after acquiring an additional 460,066 shares during the last quarter. Vanguard Group Inc increased its position in Pattern Energy Group by 5.8% during the 3rd quarter. Vanguard Group Inc now owns 8,397,976 shares of the utilities provider’s stock worth $166,869,000 after purchasing an additional 460,066 shares in the last quarter. BlackRock Inc. increased its position in Pattern Energy Group by 5.8% during the 4th quarter. BlackRock Inc. now owns 6,779,371 shares of the utilities provider’s stock worth $126,232,000 after purchasing an additional 370,892 shares in the last quarter. CI Investments Inc. increased its position in Pattern Energy Group by 0.4% during the 3rd quarter. CI Investments Inc. now owns 5,632,927 shares of the utilities provider’s stock worth $111,926,000 after purchasing an additional 23,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Pattern Energy Group by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,095 shares of the utilities provider’s stock worth $37,725,000 after purchasing an additional 83,674 shares in the last quarter. Institutional investors own 83.73% of the company’s stock.

About Pattern Energy Group

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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