Wall Street analysts expect Sunnova Energy International Inc. (NYSE:NOVA) to report earnings per share of ($0.38) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Sunnova Energy International’s earnings. The highest EPS estimate is ($0.31) and the lowest is ($0.47). Sunnova Energy International posted earnings of ($0.21) per share in the same quarter last year, which would suggest a negative year over year growth rate of 81%. The business is scheduled to announce its next earnings report on Monday, February 22nd.
According to Zacks, analysts expect that Sunnova Energy International will report full year earnings of ($2.27) per share for the current fiscal year, with EPS estimates ranging from ($2.35) to ($2.19). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.08) per share, with EPS estimates ranging from ($2.04) to $1.50. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Sunnova Energy International.
Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 28th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The company had revenue of $50.18 million during the quarter, compared to the consensus estimate of $47.67 million. Sunnova Energy International had a negative net margin of 113.82% and a negative return on equity of 18.35%.
A number of research firms have weighed in on NOVA. JMP Securities upped their target price on Sunnova Energy International from $53.00 to $66.00 in a research report on Monday, January 4th. Credit Suisse Group cut Sunnova Energy International from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Wednesday, December 2nd. KeyCorp boosted their target price on Sunnova Energy International from $28.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, December 28th. Piper Sandler initiated coverage on shares of Sunnova Energy International in a research report on Wednesday, October 7th. They set an “overweight” rating and a $37.00 target price on the stock. Finally, Roth Capital boosted their price objective on shares of Sunnova Energy International from $35.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $41.69.
NYSE NOVA opened at $50.78 on Thursday. Sunnova Energy International has a 52 week low of $6.12 and a 52 week high of $57.70. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 2.05. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of -24.30 and a beta of 2.21. The company has a 50-day moving average price of $45.63 and a two-hundred day moving average price of $35.99.
In other Sunnova Energy International news, insider Walter A. Baker sold 28,656 shares of the stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $39.50, for a total transaction of $1,131,912.00. Following the sale, the insider now owns 87,602 shares of the company’s stock, valued at approximately $3,460,279. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Salvo John T. Santo sold 176,689 shares of the firm’s stock in a transaction dated Wednesday, January 6th. The shares were sold at an average price of $50.04, for a total transaction of $8,841,517.56. Following the completion of the sale, the insider now owns 117,239 shares of the company’s stock, valued at approximately $5,866,639.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,442,004 shares of company stock worth $289,892,998.
A number of hedge funds have recently bought and sold shares of NOVA. Sylebra Capital Ltd acquired a new position in Sunnova Energy International in the third quarter valued at approximately $93,219,000. BlackRock Inc. raised its position in shares of Sunnova Energy International by 107.7% during the 3rd quarter. BlackRock Inc. now owns 3,885,594 shares of the company’s stock valued at $118,161,000 after acquiring an additional 2,014,697 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sunnova Energy International by 89.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,304,036 shares of the company’s stock valued at $22,260,000 after purchasing an additional 616,274 shares during the period. State Street Corp lifted its stake in shares of Sunnova Energy International by 47.0% in the 3rd quarter. State Street Corp now owns 1,209,601 shares of the company’s stock valued at $36,784,000 after purchasing an additional 387,006 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Sunnova Energy International by 9.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,189,670 shares of the company’s stock worth $96,998,000 after purchasing an additional 285,142 shares during the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.
About Sunnova Energy International
Sunnova Energy International Inc provides residential solar and energy storage services in the United States. The company offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services. It operates a fleet of residential solar energy systems with a generation capacity of approximately 572 megawatts serving approximately 80,000 customers.
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