$0.15 Earnings Per Share Expected for 8Point3 Energy Partners LP (CAFD) This Quarter

Equities research analysts predict that 8Point3 Energy Partners LP (NASDAQ:CAFD) will announce earnings of $0.15 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for 8Point3 Energy Partners’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.22. 8Point3 Energy Partners reported earnings per share of $0.12 during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The company is scheduled to report its next quarterly earnings report on Thursday, July 5th.

According to Zacks, analysts expect that 8Point3 Energy Partners will report full-year earnings of $0.72 per share for the current financial year, with EPS estimates ranging from $0.58 to $1.00. For the next year, analysts expect that the business will post earnings of $0.59 per share, with EPS estimates ranging from $0.17 to $0.88. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow 8Point3 Energy Partners.

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8Point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings results on Wednesday, March 28th. The energy company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.27. 8Point3 Energy Partners had a return on equity of 1.96% and a net margin of 28.84%. The company had revenue of $10.87 million during the quarter, compared to the consensus estimate of $11.17 million.

Several brokerages have recently weighed in on CAFD. JPMorgan Chase downgraded 8Point3 Energy Partners from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 9th. BidaskClub raised 8Point3 Energy Partners from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. TheStreet downgraded 8Point3 Energy Partners from a “c” rating to a “d+” rating in a research note on Tuesday, January 16th. Robert W. Baird downgraded 8Point3 Energy Partners from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, January 22nd. Finally, Zacks Investment Research downgraded 8Point3 Energy Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Five analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.27.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in 8Point3 Energy Partners in the 4th quarter valued at $103,000. Quantitative Systematic Strategies LLC acquired a new position in 8Point3 Energy Partners in the 4th quarter valued at $195,000. Kayne Anderson Capital Advisors LP acquired a new position in 8Point3 Energy Partners in the 4th quarter valued at $205,000. Ladenburg Thalmann Financial Services Inc. raised its stake in 8Point3 Energy Partners by 90.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,357 shares of the energy company’s stock valued at $351,000 after purchasing an additional 11,112 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in 8Point3 Energy Partners by 83.6% in the 4th quarter. Geode Capital Management LLC now owns 24,303 shares of the energy company’s stock valued at $369,000 after purchasing an additional 11,066 shares during the last quarter. 17.53% of the stock is owned by hedge funds and other institutional investors.

Shares of CAFD stock traded up $0.06 during trading hours on Monday, hitting $12.05. 118,084 shares of the company’s stock were exchanged, compared to its average volume of 312,180. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.84. 8Point3 Energy Partners has a fifty-two week low of $11.69 and a fifty-two week high of $15.92.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Tuesday, April 3rd will be paid a $0.2802 dividend. This represents a $1.12 annualized dividend and a yield of 9.30%. The ex-dividend date is Monday, April 2nd.

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About 8Point3 Energy Partners

8point3 Energy Partners LP, together with its subsidiaries, acquires, owns, and operates solar energy generation projects in the United States. It owns interests in 10 utility-scale solar energy projects; and 4 commercial and industrial solar energy projects, as well as a portfolio of residential DG solar assets.

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