Sunnova Energy International Inc. (NYSE:NOVA) Forecasted to Earn Q3 2024 Earnings of ($0.22) Per Share

Sunnova Energy International Inc. (NYSE:NOVA) – Stock analysts at Roth Capital dropped their Q3 2024 EPS estimates for Sunnova Energy International in a research report issued on Thursday, August 1st. Roth Capital analyst P. Shen now forecasts that the company will post earnings per share of ($0.22) for the quarter, down from their previous estimate of ($0.06). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($1.89) per share. Roth Capital also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($1.18) EPS, Q1 2025 earnings at ($0.55) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($1.13) EPS, Q1 2026 earnings at ($0.40) EPS, Q2 2026 earnings at ($0.18) EPS and FY2026 earnings at ($0.90) EPS.

Other research analysts have also issued reports about the company. Guggenheim boosted their target price on Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, July 26th. B. Riley decreased their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group raised their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial upped their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Barclays cut their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.84.

Sunnova Energy International Trading Down 6.0 %

Sunnova Energy International stock opened at $7.25 on Monday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a 50-day simple moving average of $6.25 and a 200 day simple moving average of $6.36. The stock has a market capitalization of $898.87 million, a P/E ratio of -2.15 and a beta of 2.19. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $16.78.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 9.28%. The company’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.74) EPS.

Insider Transactions at Sunnova Energy International

In other news, insider William J. Berger 48,413 shares of the business’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Trading of Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Sunnova Energy International by 56.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares during the period. Vanguard Group Inc. grew its stake in shares of Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after purchasing an additional 81,653 shares during the last quarter. Van ECK Associates Corp increased its holdings in Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after purchasing an additional 866,705 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Sunnova Energy International by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after purchasing an additional 61,953 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Sunnova Energy International by 3,168.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock worth $3,519,000 after purchasing an additional 556,563 shares during the last quarter.

About Sunnova Energy International

Sunnova Energy International Inc engages in the provision of energy as a service 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 solar energy system and energy storage system diagnostics services.