Analysts forecast that Azure Power Global Ltd (NYSE:AZRE) will report earnings per share of ($0.04) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Azure Power Global’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at $0.01. Azure Power Global posted earnings of ($0.64) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 93.8%. The firm is scheduled to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Azure Power Global will report full year earnings of $0.03 per share for the current fiscal year, with EPS estimates ranging from ($0.07) to $0.13. For the next financial year, analysts expect that the business will report earnings of $0.12 per share, with EPS estimates ranging from $0.06 to $0.18. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Azure Power Global.

Azure Power Global (NYSE:AZRE) last issued its quarterly earnings results on Friday, June 15th. The energy company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.08. Azure Power Global had a negative net margin of 11.97% and a negative return on equity of 9.47%. The company had revenue of $34.70 million during the quarter, compared to analyst estimates of $33.80 million.

A number of equities research analysts have recently issued reports on AZRE shares. Janney Montgomery Scott started coverage on shares of Azure Power Global in a report on Friday, August 17th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Azure Power Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 5th. ValuEngine raised shares of Azure Power Global from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Credit Suisse Group upped their target price on shares of Azure Power Global from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, June 18th. Finally, JMP Securities started coverage on shares of Azure Power Global in a report on Monday, July 30th. They set an “outperform” rating and a $26.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $22.67.

Azure Power Global stock opened at $14.83 on Monday. Azure Power Global has a 52-week low of $12.53 and a 52-week high of $18.10. The firm has a market cap of $389.17 million, a PE ratio of -22.82 and a beta of 1.96. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 4.43.

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its position in shares of Azure Power Global by 3,077.1% during the 1st quarter. Sei Investments Co. now owns 30,627 shares of the energy company’s stock valued at $406,000 after acquiring an additional 29,663 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Azure Power Global by 22.2% during the 2nd quarter. Renaissance Technologies LLC now owns 45,200 shares of the energy company’s stock valued at $654,000 after acquiring an additional 8,200 shares during the last quarter. Perella Weinberg Partners Capital Management LP acquired a new position in shares of Azure Power Global during the 2nd quarter valued at about $1,869,000. Handelsbanken Fonder AB boosted its position in shares of Azure Power Global by 125.0% during the 1st quarter. Handelsbanken Fonder AB now owns 534,513 shares of the energy company’s stock valued at $7,082,000 after acquiring an additional 296,972 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Azure Power Global by 55.1% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,443,567 shares of the energy company’s stock valued at $122,094,000 after acquiring an additional 3,000,000 shares during the last quarter. 42.45% of the stock is owned by institutional investors and hedge funds.

Azure Power Global Company Profile

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers.

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