Sunnova Energy International Inc. (NYSE:NOVA) Expected to Post Quarterly Sales of $90.55 Million

Equities analysts predict that Sunnova Energy International Inc. (NYSE:NOVAGet Rating) will post sales of $90.55 million for the current quarter, according to Zacks. Eight analysts have made estimates for Sunnova Energy International’s earnings. The lowest sales estimate is $81.80 million and the highest is $100.10 million. Sunnova Energy International reported sales of $66.56 million in the same quarter last year, which indicates a positive year over year growth rate of 36%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Sunnova Energy International will report full year sales of $345.46 million for the current year, with estimates ranging from $325.90 million to $374.03 million. For the next financial year, analysts forecast that the business will post sales of $479.24 million, with estimates ranging from $411.40 million to $560.99 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Sunnova Energy International.

Sunnova Energy International (NYSE:NOVAGet Rating) last announced its earnings results on Wednesday, April 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.08. The firm had revenue of $65.72 million for the quarter, compared to analysts’ expectations of $65.18 million. Sunnova Energy International had a negative net margin of 52.12% and a negative return on equity of 9.95%. During the same quarter in the previous year, the business posted ($0.31) EPS.

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Sunnova Energy International from $56.00 to $46.00 in a research report on Monday, February 28th. JPMorgan Chase & Co. lowered their target price on Sunnova Energy International from $66.00 to $53.00 in a research report on Thursday, January 20th. B. Riley lowered their target price on Sunnova Energy International from $29.00 to $26.00 in a research report on Friday, April 29th. Zacks Investment Research upgraded Sunnova Energy International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 25th. Finally, Piper Sandler lowered their target price on Sunnova Energy International from $36.00 to $33.00 in a research report on Thursday, April 21st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $44.21.

In other news, insider Chris Hayden sold 3,780 shares of the company’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $21.71, for a total value of $82,063.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Akbar Mohamed purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was 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. Insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. Captrust Financial Advisors grew its stake in Sunnova Energy International by 236.4% during the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock worth $34,000 after buying an additional 1,045 shares during the last quarter. US Bancorp DE grew its stake 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 buying an additional 415 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Sunnova Energy International by 30.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the company’s stock worth $51,000 after acquiring an additional 600 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Sunnova Energy International by 198.1% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,073 shares of the company’s stock worth $71,000 after acquiring an additional 2,042 shares during the period. Finally, Fulcrum Asset Management LLP acquired a new stake in Sunnova Energy International during the 4th quarter worth approximately $74,000.

Sunnova Energy International stock opened at $16.54 on Thursday. The firm has a 50 day moving average of $20.45 and a 200 day moving average of $25.00. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -13.23 and a beta of 2.28. Sunnova Energy International has a 12-month low of $12.47 and a 12-month high of $46.40. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.30.

Sunnova Energy International Company Profile (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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Earnings History and Estimates for Sunnova Energy International (NYSE:NOVA)

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