Analysts Expect Sunnova Energy International Inc. (NYSE:NOVA) Will Announce Quarterly Sales of $89.74 Million

Equities research analysts expect Sunnova Energy International Inc. (NYSE:NOVAGet Rating) to report $89.74 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Sunnova Energy International’s earnings, with the lowest sales estimate coming in at $83.30 million and the highest estimate coming in at $99.34 million. Sunnova Energy International posted sales of $66.56 million during the same quarter last year, which suggests a positive year over year growth rate of 34.8%. The business is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Sunnova Energy International will report full-year sales of $346.70 million for the current fiscal year, with estimates ranging from $319.90 million to $376.50 million. For the next year, analysts forecast that the firm will report sales of $479.06 million, with estimates ranging from $411.40 million to $575.21 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Sunnova Energy International.

Sunnova Energy International (NYSE:NOVAGet Rating) last released its earnings results on Wednesday, April 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.05. Sunnova Energy International had a negative net margin of 57.14% and a negative return on equity of 10.44%. During the same quarter last year, the firm posted ($0.31) EPS.

A number of research firms have issued reports on NOVA. The Goldman Sachs Group lowered shares of Sunnova Energy International from a “conviction-buy” rating to a “buy” rating in a report on Sunday, January 9th. KeyCorp reduced their target price on shares of Sunnova Energy International from $50.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Sunnova Energy International from $66.00 to $53.00 in a report on Thursday, January 20th. Zacks Investment Research upgraded shares of Sunnova Energy International from a “sell” rating to a “hold” rating in a report on Tuesday, January 25th. Finally, Robert W. Baird reduced their price objective on shares of Sunnova Energy International from $56.00 to $46.00 in a report on Monday, February 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $47.46.

Sunnova Energy International stock opened at $17.41 on Friday. The firm has a market cap of $1.98 billion, a PE ratio of -13.82 and a beta of 2.21. Sunnova Energy International has a 52-week low of $13.90 and a 52-week high of $46.40. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 2.12. The company’s 50 day moving average is $21.31 and its two-hundred day moving average is $26.79.

In other Sunnova Energy International news, insider Chris Hayden sold 3,780 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $21.71, for a total transaction of $82,063.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed acquired 10,000 shares of the stock in a transaction on Thursday, March 3rd. The shares were acquired at an average cost of $19.09 per share, for a total transaction of $190,900.00. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of NOVA. US Bancorp DE grew its position in Sunnova Energy International by 37.5% during the 3rd quarter. US Bancorp DE now owns 1,522 shares of the company’s stock worth $50,000 after purchasing an additional 415 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Sunnova Energy International by 30.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the company’s stock valued at $51,000 after acquiring an additional 600 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in shares of Sunnova Energy International in the fourth quarter valued at about $74,000. Exchange Traded Concepts LLC boosted its holdings in shares of Sunnova Energy International by 82.4% in the first quarter. Exchange Traded Concepts LLC now owns 4,428 shares of the company’s stock valued at $102,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of Sunnova Energy International by 65.8% in the third quarter. Macquarie Group Ltd. now owns 4,087 shares of the company’s stock valued at $135,000 after acquiring an additional 1,622 shares in the last quarter.

About Sunnova Energy International (Get Rating)

Sunnova Energy International Inc provides residential energy services in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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