Sunnova Energy International Inc. (NYSE:NOVA) Expected to Announce Earnings of -$0.27 Per Share

Wall Street brokerages forecast that Sunnova Energy International Inc. (NYSE:NOVA) will announce ($0.27) earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Sunnova Energy International’s earnings. The highest EPS estimate is ($0.23) and the lowest is ($0.34). Sunnova Energy International posted earnings per share of ($0.30) during the same quarter last year, which suggests a positive year over year growth rate of 10%. The company is expected to issue its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Sunnova Energy International will report full-year earnings of ($1.17) per share for the current financial year, with EPS estimates ranging from ($1.49) to ($0.85). For the next year, analysts anticipate that the business will post earnings of ($1.23) per share, with EPS estimates ranging from ($2.28) to ($0.52). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Sunnova Energy International.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, April 28th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.03. The company had revenue of $41.28 million for the quarter, compared to the consensus estimate of $42.82 million. Sunnova Energy International had a negative return on equity of 18.35% and a negative net margin of 113.82%.

A number of research analysts recently issued reports on NOVA shares. JPMorgan Chase & Co. cut their price target on Sunnova Energy International from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, March 8th. Piper Sandler increased their price objective on Sunnova Energy International from $35.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, January 19th. Evercore ISI began coverage on Sunnova Energy International in a research report on Monday, April 26th. They set an “outperform” rating and a $52.00 target price for the company. Raymond James decreased their price target on Sunnova Energy International from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, April 14th. Finally, Credit Suisse Group upgraded shares of Sunnova Energy International from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $56.00 in a research report on Thursday, March 4th. Twelve investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $51.58.

NYSE NOVA traded up $0.84 during trading hours on Thursday, reaching $26.80. 2,049,712 shares of the company’s stock were exchanged, compared to its average volume of 2,417,690. The firm has a fifty day moving average of $36.01 and a 200-day moving average of $42.02. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 2.05. Sunnova Energy International has a one year low of $12.30 and a one year high of $57.70. The stock has a market cap of $3.00 billion, a PE ratio of -12.82 and a beta of 2.19.

In other Sunnova Energy International news, insider Walter A. Baker sold 4,395 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $41.78, for a total value of $183,623.10.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Sunnova Energy International by 32.3% during the first quarter. BlackRock Inc. now owns 12,673,336 shares of the company’s stock worth $517,325,000 after acquiring an additional 3,092,136 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Sunnova Energy International by 16.3% during the first quarter. Handelsbanken Fonder AB now owns 3,767,554 shares of the company’s stock worth $153,792,000 after purchasing an additional 526,760 shares during the period. Avalon Investment & Advisory lifted its holdings in shares of Sunnova Energy International by 2.9% during the 1st quarter. Avalon Investment & Advisory now owns 2,269,347 shares of the company’s stock valued at $92,635,000 after purchasing an additional 64,104 shares in the last quarter. TimesSquare Capital Management LLC grew its position in shares of Sunnova Energy International by 3.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,826,595 shares of the company’s stock valued at $74,562,000 after purchasing an additional 67,965 shares during the period. Finally, Geode Capital Management LLC increased its stake in Sunnova Energy International by 14.6% during the 1st quarter. Geode Capital Management LLC now owns 1,003,888 shares of the company’s stock worth $40,978,000 after purchasing an additional 127,768 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

About Sunnova Energy International

Sunnova Energy International Inc, together with its subsidiaries, provides residential solar and energy storage services in the United States. The company offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services.

Recommended Story: What is a Market Correction?

Get a free copy of the Zacks research report on Sunnova Energy International (NOVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Sunnova Energy International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunnova Energy International and related companies with MarketBeat.com's FREE daily email newsletter.