Brokerages expect that Azure Power Global Ltd (NYSE:AZRE) will report sales of $32.57 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Azure Power Global’s earnings, with the lowest sales estimate coming in at $32.50 million and the highest estimate coming in at $32.63 million. Azure Power Global posted sales of $27.93 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.6%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Azure Power Global will report full year sales of $141.37 million for the current year, with estimates ranging from $140.13 million to $142.60 million. For the next year, analysts anticipate that the firm will post sales of $192.87 million per share, with estimates ranging from $190.60 million to $195.13 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Azure Power Global.

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

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

Shares of NYSE AZRE traded down $0.27 during midday trading on Wednesday, hitting $14.63. 400 shares of the stock traded hands, compared to its average volume of 29,816. The company has a market cap of $385.53 million, a price-to-earnings ratio of -22.46 and a beta of 1.96. Azure Power Global has a one year low of $12.53 and a one year high of $18.10. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 4.43.

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of Azure Power Global by 22.2% during the second quarter. Renaissance Technologies LLC now owns 45,200 shares of the energy company’s stock valued at $654,000 after buying an additional 8,200 shares during the last quarter. Sei Investments Co. boosted its position in shares of Azure Power Global by 3,077.1% during the first quarter. Sei Investments Co. now owns 30,627 shares of the energy company’s stock valued at $406,000 after buying an additional 29,663 shares during the last quarter. Perella Weinberg Partners Capital Management LP purchased a new position in shares of Azure Power Global during the second quarter valued at approximately $1,869,000. Handelsbanken Fonder AB boosted its position in shares of Azure Power Global by 125.0% during the first quarter. Handelsbanken Fonder AB now owns 534,513 shares of the energy company’s stock valued at $7,082,000 after buying 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 second 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 buying an additional 3,000,000 shares during the last quarter. 42.45% of the stock is currently owned by institutional investors.

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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