XPLR Infrastructure (NYSE:XIFR) Shares Gap Up Following Earnings Beat

Key Points

• XPLR Infrastructure shares experienced a significant increase, gapping up from $8.90 to $9.64 following strong quarterly earnings that exceeded analysts' expectations.
• The company reported $0.84 earnings per share, beating the consensus estimate by $0.64, despite revenues falling short of expectations at $342 million.
• Analyst ratings are mixed, with Barclays rating it "underweight" and Jefferies giving it a "buy" rating, resulting in an average rating of "Hold" with a target price of $16.77.

XPLR Infrastructure, LP (NYSE:XIFR - Get Free Report)'s stock price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $8.90, but opened at $9.64. XPLR Infrastructure shares last traded at $10.07, with a volume of 322,238 shares.

The solar energy provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.20 by $0.64. XPLR Infrastructure had a positive return on equity of 1.80% and a negative net margin of 12.94%. The company had revenue of $342.00 million during the quarter, compared to analyst estimates of $359.64 million. The business's revenue was down 5.0% compared to the same quarter last year.

Wall Street Analyst Weigh In

XIFR has been the subject of several research analyst reports. Mizuho cut their price objective on XPLR Infrastructure from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Barclays boosted their price target on XPLR Infrastructure from $6.00 to $9.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group boosted their price target on XPLR Infrastructure from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $16.77.

XPLR Infrastructure Stock Performance

The stock has a market cap of $929.67 million, a P/E ratio of -5.75 and a beta of 0.86. The company has a quick ratio of 1.76, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $8.92 and a two-hundred day moving average price of $9.09.

XPLR Infrastructure Company Profile

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.