Vivint Solar Inc (VSLR) Expected to Post Quarterly Sales of $71.82 Million
Equities research analysts expect Vivint Solar Inc (NYSE:VSLR) to report sales of $71.82 million for the current quarter, Zacks reports. Two analysts have issued estimates for Vivint Solar’s earnings, with the highest sales estimate coming in at $75.83 million and the lowest estimate coming in at $67.80 million. Vivint Solar posted sales of $41.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 74.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Vivint Solar will report full year sales of $71.82 million for the current financial year, with estimates ranging from $259.80 million to $261.29 million. For the next year, analysts anticipate that the business will post sales of $324.60 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Vivint Solar.
Vivint Solar (NYSE:VSLR) last released its earnings results on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. The business had revenue of $73 million for the quarter, compared to the consensus estimate of $65.41 million. Vivint Solar had a negative net margin of 50.76% and a positive return on equity of 3.46%. The firm’s quarterly revenue was up 109.2% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share.
Several brokerages recently issued reports on VSLR. Zacks Investment Research upgraded Vivint Solar from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Saturday, August 12th. BidaskClub downgraded Vivint Solar from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Deutsche Bank AG downgraded Vivint Solar from a “buy” rating to a “hold” rating and set a $6.00 price target for the company. in a report on Wednesday, August 9th. ValuEngine upgraded Vivint Solar from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Goldman Sachs Group, Inc. (The) upgraded Vivint Solar from a “neutral” rating to a “buy” rating and upped their price target for the stock from $3.50 to $6.00 in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.38.
In other Vivint Solar news, insider L. Chance Allred sold 60,764 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $5.18, for a total value of $314,757.52. Following the transaction, the insider now owns 91,463 shares of the company’s stock, valued at $473,778.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Bywater sold 35,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $5.25, for a total value of $183,750.00. Following the completion of the transaction, the chief executive officer now directly owns 620,674 shares in the company, valued at approximately $3,258,538.50. The disclosure for this sale can be found here. In the last three months, insiders sold 474,161 shares of company stock worth $2,315,072. Insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Vivint Solar by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the semiconductor company’s stock valued at $10,200,000 after buying an additional 329,748 shares in the last quarter. GCA Investment Management LLC acquired a new position in Vivint Solar during the second quarter valued at $4,556,000. State Street Corp boosted its position in Vivint Solar by 5.8% in the second quarter. State Street Corp now owns 363,520 shares of the semiconductor company’s stock valued at $2,127,000 after buying an additional 20,027 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Vivint Solar by 235.2% in the first quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the semiconductor company’s stock valued at $564,000 after buying an additional 141,329 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in Vivint Solar by 456.9% in the second quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the semiconductor company’s stock valued at $947,000 after buying an additional 132,751 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vivint Solar (NYSE VSLR) opened at 4.75 on Thursday. The company’s 50 day moving average is $5.17 and its 200 day moving average is $3.78. The firm has a market capitalization of $543.71 million, a PE ratio of 9.98 and a beta of -0.25. Vivint Solar has a 12-month low of $2.50 and a 12-month high of $6.09.
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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