Analysts Issue Forecasts for Infrastructure and Energy Alternatives, Inc.’s FY2023 Earnings (NASDAQ:IEA)

Infrastructure and Energy Alternatives, Inc. (NASDAQ:IEAGet Rating) – Research analysts at DA Davidson reduced their FY2023 earnings per share estimates for Infrastructure and Energy Alternatives in a report released on Wednesday, July 27th. DA Davidson analyst B. Thielman now anticipates that the company will post earnings of $1.11 per share for the year, down from their prior forecast of $1.37. DA Davidson has a “Neutral” rating on the stock. The consensus estimate for Infrastructure and Energy Alternatives’ current full-year earnings is $0.92 per share.

Several other equities research analysts also recently issued reports on the company. Sidoti downgraded Infrastructure and Energy Alternatives from a “buy” rating to a “neutral” rating in a report on Monday, July 25th. Stifel Nicolaus downgraded Infrastructure and Energy Alternatives from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Guggenheim downgraded Infrastructure and Energy Alternatives to a “neutral” rating in a report on Tuesday.

Infrastructure and Energy Alternatives Trading Down 0.1 %

NASDAQ:IEA opened at $14.12 on Friday. The company has a debt-to-equity ratio of 45.77, a quick ratio of 1.29 and a current ratio of 1.29. Infrastructure and Energy Alternatives has a 52 week low of $6.38 and a 52 week high of $14.45. The stock’s fifty day moving average is $9.29 and its two-hundred day moving average is $10.09.

Infrastructure and Energy Alternatives (NASDAQ:IEAGet Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.41). The business had revenue of $360.10 million during the quarter, compared to the consensus estimate of $355.34 million. During the same quarter in the prior year, the company earned ($0.91) EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IEA. Ares Management LLC boosted its position in shares of Infrastructure and Energy Alternatives by 28.9% during the 4th quarter. Ares Management LLC now owns 15,241,275 shares of the company’s stock worth $140,220,000 after acquiring an additional 3,420,236 shares in the last quarter. Coliseum Capital Management LLC acquired a new position in shares of Infrastructure and Energy Alternatives during the 4th quarter worth about $7,546,000. Assenagon Asset Management S.A. acquired a new position in shares of Infrastructure and Energy Alternatives during the 1st quarter worth about $7,489,000. Caspian Capital LP acquired a new position in shares of Infrastructure and Energy Alternatives during the 4th quarter worth about $5,750,000. Finally, BlackRock Inc. boosted its position in shares of Infrastructure and Energy Alternatives by 27.0% during the 1st quarter. BlackRock Inc. now owns 2,185,219 shares of the company’s stock worth $25,895,000 after acquiring an additional 464,684 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Infrastructure and Energy Alternatives Company Profile

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Infrastructure and Energy Alternatives, Inc, through its subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries.

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