Sunlight Financial Holdings Inc. (NYSE:SUNL) Expected to Announce Quarterly Sales of $31.80 Million

Equities research analysts expect that Sunlight Financial Holdings Inc. (NYSE:SUNL – Get Rating) will announce sales of $31.80 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sunlight Financial’s earnings, with the lowest sales estimate coming in at $29.69 million and the highest estimate coming in at $33.90 million. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Sunlight Financial will report full year sales of $148.47 million for the current financial year. For the next year, analysts anticipate that the business will post sales of $188.16 million, with estimates ranging from $186.22 million to $190.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Sunlight Financial.

A number of equities research analysts have issued reports on the stock. Credit Suisse Group reduced their target price on shares of Sunlight Financial from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, March 31st. Citigroup dropped their target price on shares of Sunlight Financial from $10.00 to $6.00 in a research report on Sunday, April 10th. Finally, Zacks Investment Research downgraded shares of Sunlight Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 1st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.67.

Sunlight Financial stock opened at $4.44 on Thursday. The firm has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $4.36. Sunlight Financial has a 1-year low of $2.41 and a 1-year high of $10.08.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. raised its position in Sunlight Financial by 136.6% during the fourth quarter. Citigroup Inc. now owns 5,669 shares of the company’s stock worth $27,000 after acquiring an additional 3,273 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Sunlight Financial during the third quarter worth $46,000. Integrated Wealth Concepts LLC acquired a new stake in Sunlight Financial in the fourth quarter valued at $54,000. Raymond James & Associates acquired a new stake in shares of Sunlight Financial during the fourth quarter worth $55,000. Finally, Ground Swell Capital LLC bought a new position in shares of Sunlight Financial during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 23.51% of the company’s stock.

About Sunlight Financial (Get Rating)

Sunlight Financial Holdings Inc operates a business-to-business-to-consumer technology-enabled point-of-sale financing platform in the United States. Its platform is used to provide secured and unsecured loans for homeowners originated by third-party lenders to purchase and install residential solar energy systems, and other home improvements.

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