Azure Power Global Ltd (NYSE:AZRE) has been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.75.
AZRE has been the topic of several research analyst reports. Credit Suisse Group set a $22.00 price objective on Azure Power Global and gave the stock a “buy” rating in a research note on Thursday, February 14th. Barclays reissued a “hold” rating and issued a $13.00 price objective on shares of Azure Power Global in a research note on Monday, February 18th.
Shares of AZRE remained flat at $$10.95 during mid-day trading on Thursday. The stock had a trading volume of 125,974 shares, compared to its average volume of 27,137. The company has a market capitalization of $447.01 million, a PE ratio of -16.85 and a beta of 1.94. Azure Power Global has a 1 year low of $8.25 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 2.43, a quick ratio of 2.67 and a current ratio of 2.67.
Azure Power Global (NYSE:AZRE) last released its earnings results on Tuesday, February 12th. The energy company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. The firm had revenue of $34.94 million for the quarter, compared to analysts’ expectations of $30.70 million. Azure Power Global had a return on equity of 0.81% and a net margin of 0.24%. As a group, sell-side analysts expect that Azure Power Global will post 0.12 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in Azure Power Global by 1,647.8% during the 4th quarter. Millennium Management LLC now owns 329,730 shares of the energy company’s stock valued at $2,984,000 after acquiring an additional 310,865 shares in the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in Azure Power Global during the 4th quarter valued at $718,000. Handelsbanken Fonder AB boosted its position in Azure Power Global by 47.2% during the 4th quarter. Handelsbanken Fonder AB now owns 786,610 shares of the energy company’s stock valued at $7,119,000 after acquiring an additional 252,097 shares in the last quarter. Perella Weinberg Partners Capital Management LP boosted its position in Azure Power Global by 262.5% during the 4th quarter. Perella Weinberg Partners Capital Management LP now owns 546,495 shares of the energy company’s stock valued at $4,946,000 after acquiring an additional 395,746 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Azure Power Global during the 4th quarter valued at $30,000. 51.79% 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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