Zacks: Brokerages Anticipate Orion Energy Systems, Inc. (OESX) Will Post Earnings of -$0.14 Per Share
Analysts predict that Orion Energy Systems, Inc. (NASDAQ:OESX) will post ($0.14) earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Orion Energy Systems’ earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.13). Orion Energy Systems posted earnings per share of ($0.03) in the same quarter last year, which would indicate a negative year over year growth rate of 366.7%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Orion Energy Systems will report full-year earnings of ($0.48) per share for the current financial year, with EPS estimates ranging from ($0.55) to ($0.40). For the next fiscal year, analysts forecast that the business will report earnings of ($0.07) per share, with EPS estimates ranging from ($0.08) to ($0.05). Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Orion Energy Systems.
Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings results on Friday, August 4th. The electronics maker reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). Orion Energy Systems had a negative net margin of 23.70% and a negative return on equity of 37.61%. The firm had revenue of $12.56 million for the quarter, compared to the consensus estimate of $15.94 million.
A number of research firms have recently commented on OESX. Zacks Investment Research raised shares of Orion Energy Systems from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine cut shares of Orion Energy Systems from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, HC Wainwright set a $3.00 target price on shares of Orion Energy Systems and gave the stock a “buy” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.00.
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In other news, insider John H. Scribante sold 40,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $0.99, for a total value of $39,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of OESX. North Star Investment Management Corp. lifted its holdings in shares of Orion Energy Systems by 7.0% in the second quarter. North Star Investment Management Corp. now owns 2,830,964 shares of the electronics maker’s stock worth $3,624,000 after acquiring an additional 185,000 shares during the last quarter. IFC Holdings Incorporated FL bought a new position in Orion Energy Systems in the 2nd quarter valued at approximately $128,000. New York State Common Retirement Fund raised its holdings in Orion Energy Systems by 11.3% in the 2nd quarter. New York State Common Retirement Fund now owns 570,230 shares of the electronics maker’s stock valued at $730,000 after buying an additional 57,799 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Orion Energy Systems by 7.2% in the 1st quarter. Renaissance Technologies LLC now owns 807,500 shares of the electronics maker’s stock valued at $1,599,000 after buying an additional 54,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Orion Energy Systems by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 478,694 shares of the electronics maker’s stock valued at $948,000 after buying an additional 20,146 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.
Orion Energy Systems Company Profile
Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.
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