Zacks: Analysts Expect Vivint Solar, Inc. (VSLR) Will Post Quarterly Sales of $66.48 Million
Wall Street brokerages expect Vivint Solar, Inc. (NYSE:VSLR) to post sales of $66.48 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Vivint Solar’s earnings, with the lowest sales estimate coming in at $59.35 million and the highest estimate coming in at $73.60 million. Vivint Solar reported sales of $41.77 million in the same quarter last year, which indicates a positive year-over-year growth rate of 59.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, March 15th.
According to Zacks, analysts expect that Vivint Solar will report full year sales of $66.48 million for the current year, with estimates ranging from $261.29 million to $274.90 million. For the next financial year, analysts anticipate that the company will report sales of $340.40 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Vivint Solar.
Vivint Solar (NYSE:VSLR) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). Vivint Solar had a net margin of 18.65% and a negative return on equity of 26.04%. The business had revenue of $75.10 million during the quarter, compared to analysts’ expectations of $74.56 million. During the same period in the prior year, the firm posted ($0.36) EPS. Vivint Solar’s revenue for the quarter was up 81.8% compared to the same quarter last year.
A number of equities research analysts have weighed in on VSLR shares. Deutsche Bank AG lowered Vivint Solar from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a report on Wednesday, August 9th. BidaskClub lowered Vivint Solar from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research raised Vivint Solar from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a report on Saturday, August 12th. ValuEngine lowered Vivint Solar from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Guggenheim started coverage on Vivint Solar in a report on Wednesday, September 27th. They issued a “buy” rating and a $5.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.05.
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Several large investors have recently made changes to their positions in VSLR. Bank of New York Mellon Corp boosted its stake in shares of Vivint Solar by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 152,176 shares of the company’s stock worth $426,000 after acquiring an additional 914 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Vivint Solar by 235.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the company’s stock worth $564,000 after acquiring an additional 141,329 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Vivint Solar by 17.0% during the 2nd quarter. First Trust Advisors LP now owns 114,852 shares of the company’s stock worth $672,000 after acquiring an additional 16,707 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Vivint Solar by 9.8% during the 2nd quarter. Rhumbline Advisers now owns 28,571 shares of the company’s stock worth $167,000 after acquiring an additional 2,549 shares in the last quarter. Finally, GCA Investment Management LLC purchased a new stake in shares of Vivint Solar during the 2nd quarter worth approximately $4,556,000. 95.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vivint Solar (NYSE:VSLR) traded up $0.05 on Wednesday, reaching $3.85. The company’s stock had a trading volume of 158,300 shares, compared to its average volume of 454,140. Vivint Solar has a 12 month low of $2.55 and a 12 month high of $6.09. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.20 and a current ratio of 1.18.
About Vivint Solar
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
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