$32.57 Million in Sales Expected for Azure Power Global Ltd (AZRE) This Quarter
Equities research analysts predict that Azure Power Global Ltd (NYSE:AZRE) will post $32.57 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided 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 during the same quarter last year, which would indicate 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.
On average, 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 financial year, analysts anticipate that the company will report sales of $192.87 million, with estimates ranging from $190.60 million to $195.13 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Azure Power Global.
AZRE has been the topic of a number of research reports. Janney Montgomery Scott started coverage on shares of Azure Power Global in a research report on Friday, August 17th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Azure Power Global from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 5th. ValuEngine upgraded shares of Azure Power Global from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. JMP Securities started coverage on shares of Azure Power Global in a research report on Monday, July 30th. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, Credit Suisse Group lifted their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $22.67.
Shares of AZRE traded down $0.77 during mid-day trading on Friday, reaching $12.28. 1,238,434 shares of the company’s stock were exchanged, compared to its average volume of 35,309. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 4.43. The firm has a market cap of $420.63 million, a PE ratio of -18.89 and a beta of 1.89. Azure Power Global has a 52-week low of $11.87 and a 52-week high of $18.10.
About Azure Power Global
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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