Zacks: Brokerages Anticipate EnerNOC, Inc. (ENOC) Will Post Quarterly Sales of $73.64 Million
Brokerages forecast that EnerNOC, Inc. (NASDAQ:ENOC) will post sales of $73.64 million for the current quarter, Zacks reports. Three analysts have provided estimates for EnerNOC’s earnings, with the highest sales estimate coming in at $83.00 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 scheduled to issue its next quarterly earnings report on Tuesday, August 1st.
On average, analysts expect that EnerNOC will report full year sales of $73.64 million for the current year, with estimates ranging from $324.11 million to $331.70 million. For the next financial year, analysts expect that the company will post sales of $365.50 million per share, with estimates ranging from $360.50 million to $370.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for EnerNOC.
EnerNOC (NASDAQ:ENOC) last issued its quarterly earnings results on Tuesday, May 9th. The business services provider reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.36) by $0.44. EnerNOC had a negative return on equity of 42.33% and a negative net margin of 10.51%. The company had revenue of $48.10 million for the quarter, compared to analyst estimates of $44.73 million. During the same quarter in the prior year, the company posted ($1.41) EPS. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year.
Several equities analysts have weighed in on the stock. Canaccord Genuity reiterated a “hold” rating and set a $7.67 price objective on shares of EnerNOC in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of EnerNOC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Needham & Company LLC cut shares of EnerNOC from a “buy” rating to a “hold” rating in a research report on Monday, June 26th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of EnerNOC in a research report on Friday, June 23rd. Finally, Robert W. Baird cut shares of EnerNOC from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $8.00 in a research report on Friday, June 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.93.
A number of institutional investors have recently bought and sold shares of ENOC. Nine Chapters Capital Management LLC bought a new position in EnerNOC during the first quarter valued at approximately $103,000. Nationwide Fund Advisors boosted its position in EnerNOC by 21.8% in the first quarter. Nationwide Fund Advisors now owns 23,592 shares of the business services provider’s stock valued at $142,000 after buying an additional 4,223 shares in the last quarter. Wells Fargo & Company MN boosted its position in EnerNOC by 19.0% in the first quarter. Wells Fargo & Company MN now owns 28,861 shares of the business services provider’s stock valued at $172,000 after buying an additional 4,611 shares in the last quarter. Tudor Investment Corp Et Al boosted its position in EnerNOC by 21.9% in the fourth quarter. Tudor Investment Corp Et Al now owns 29,297 shares of the business services provider’s stock valued at $176,000 after buying an additional 5,256 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in EnerNOC during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 49.64% of the company’s stock.
Shares of EnerNOC (ENOC) traded up 0.65% on Friday, hitting $7.75. The company’s stock had a trading volume of 282,222 shares. The stock’s 50 day moving average is $5.93 and its 200-day moving average is $5.80. The company’s market cap is $228.40 million. EnerNOC has a 52 week low of $4.80 and a 52 week high of $7.75.
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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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