Brokerages Expect Sunnova Energy International Inc. (NYSE:NOVA) Will Post Earnings of -$0.29 Per Share

Wall Street analysts expect Sunnova Energy International Inc. (NYSE:NOVAGet Rating) to announce earnings of ($0.29) per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Sunnova Energy International’s earnings, with estimates ranging from ($0.65) to ($0.10). Sunnova Energy International posted earnings per share of ($0.42) during the same quarter last year, which would indicate a positive year-over-year growth rate of 31%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Sunnova Energy International will report full year earnings of ($1.16) per share for the current fiscal year, with EPS estimates ranging from ($1.75) to ($0.62). For the next financial year, analysts forecast that the firm will report earnings of ($1.22) per share, with EPS estimates ranging from ($2.61) to ($0.50). Zacks’ EPS averages are an average based on a survey of research analysts that follow Sunnova Energy International.

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

NOVA has been the topic of a number of recent research reports. Northland Securities assumed coverage on Sunnova Energy International in a research report on Wednesday. They issued an “outperform” rating and a $30.00 target price on the stock. Robert W. Baird dropped their target price on Sunnova Energy International from $56.00 to $46.00 in a report on Monday, February 28th. JPMorgan Chase & Co. dropped their target price on Sunnova Energy International from $66.00 to $53.00 in a report on Thursday, January 20th. Zacks Investment Research upgraded Sunnova Energy International from a “sell” rating to a “hold” rating in a report on Tuesday, January 25th. Finally, Truist Financial lowered their price target on Sunnova Energy International from $53.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 24th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunnova Energy International currently has a consensus rating of “Buy” and an average price target of $44.21.

Shares of NOVA stock opened at $17.39 on Tuesday. Sunnova Energy International has a fifty-two week low of $12.47 and a fifty-two week high of $46.40. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -13.91 and a beta of 2.28. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s 50-day simple moving average is $20.34 and its 200-day simple moving average is $24.82.

In other Sunnova Energy International news, Director Akbar Mohamed purchased 10,000 shares of the stock in a transaction dated Thursday, March 3rd. The shares were bought at an average cost of $19.09 per share, with a total value of $190,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Hayden sold 3,780 shares of Sunnova Energy International stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $21.71, for a total value of $82,063.80. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Captrust Financial Advisors grew its stake in Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after buying an additional 1,045 shares during the last quarter. US Bancorp DE lifted its holdings in shares of 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 acquiring an additional 415 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of 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 holdings in shares of 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 bought a new stake in shares of Sunnova Energy International during the 4th quarter worth approximately $74,000.

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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