EnerNOC, Inc. (ENOC) Expected to Announce Quarterly Sales of $73.64 Million
Brokerages expect EnerNOC, Inc. (NASDAQ:ENOC) to post sales of $73.64 million for the current quarter, Zacks reports. Three analysts have made estimates for EnerNOC’s earnings, with the highest sales estimate coming in at $83 million and the lowest estimate coming in at $67.61 million. EnerNOC reported sales of $132.69 million in the same quarter last year, which indicates a negative year-over-year growth rate of 44.5%. The business is expected to announce its next quarterly earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that EnerNOC will report full year sales of $73.64 million for the current financial year, with estimates ranging from $324.11 million to $331.7 million. For the next year, analysts anticipate that the firm will post sales of $365.5 million per share, with estimates ranging from $360.5 million to $370.5 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow EnerNOC.
EnerNOC (NASDAQ:ENOC) last announced its quarterly earnings results on Tuesday, May 9th. The business services provider reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $0.44. EnerNOC had a negative net margin of 36.02% and a negative return on equity of 53.70%. The company had revenue of $48.10 million for the quarter, compared to analysts’ expectations of $44.73 million. During the same quarter in the previous year, the business posted ($1.41) earnings per share. EnerNOC’s quarterly revenue was down 9.9% on a year-over-year basis.
ENOC has been the subject of several recent research reports. Canaccord Genuity reissued a “hold” rating and issued a $6.00 price objective on shares of EnerNOC in a research note on Wednesday, February 8th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of EnerNOC in a research note on Wednesday, March 15th. Finally, Zacks Investment Research downgraded EnerNOC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. EnerNOC presently has an average rating of “Hold” and an average target price of $7.50.
Shares of EnerNOC (NASDAQ:ENOC) opened at 5.30 on Wednesday. The company’s market cap is $157.26 million. EnerNOC has a 12 month low of $4.80 and a 12 month high of $7.74. The company has a 50-day moving average of $5.70 and a 200 day moving average of $5.78.
A number of hedge funds and other institutional investors have recently bought and sold shares of ENOC. State Street Corp increased its position in EnerNOC by 1.0% in the fourth quarter. State Street Corp now owns 459,670 shares of the business services provider’s stock valued at $2,756,000 after buying an additional 4,523 shares in the last quarter. Teza Capital Management LLC purchased a new position in EnerNOC during the fourth quarter valued at approximately $209,000. Trexquant Investment LP purchased a new position in EnerNOC during the fourth quarter valued at approximately $216,000. Renaissance Technologies LLC increased its position in EnerNOC by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,200,338 shares of the business services provider’s stock valued at $7,202,000 after buying an additional 200,138 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in EnerNOC during the fourth quarter valued at approximately $206,000. 49.93% of the stock is owned by hedge funds and other institutional investors.
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EnerNOC, Inc is a provider of energy intelligence software (EIS) and demand response solutions. The Company’s EIS provides enterprise solutions, utility solutions and energy procurement solutions. The Company’s EIS offers enterprise customers with a Software-as-a-Service (SaaS) solutions with various areas of functionalities, including energy cost visualization, budgets, forecasts and accruals; project tracking, and demand management.
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