$85.35 Million in Sales Expected for Clean Energy Fuels Corp (CLNE) This Quarter

Wall Street analysts expect Clean Energy Fuels Corp (NASDAQ:CLNE) to report sales of $85.35 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clean Energy Fuels’ earnings, with the highest sales estimate coming in at $88.10 million and the lowest estimate coming in at $82.60 million. Clean Energy Fuels posted sales of $101.83 million in the same quarter last year, which would indicate a negative year over year growth rate of 16.2%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Clean Energy Fuels will report full-year sales of $85.35 million for the current fiscal year, with estimates ranging from $334.90 million to $340.40 million. For the next year, analysts expect that the business will post sales of $358.90 million per share, with estimates ranging from $345.20 million to $372.60 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Clean Energy Fuels.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Thursday, November 2nd. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.49). The firm had revenue of $81.80 million during the quarter, compared to analysts’ expectations of $85.43 million. Clean Energy Fuels had a negative return on equity of 10.52% and a negative net margin of 15.47%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share.

Several research analysts have recently weighed in on CLNE shares. ValuEngine cut shares of Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. BidaskClub cut shares of Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, Zacks Investment Research cut shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Tuesday.

A number of hedge funds have recently made changes to their positions in CLNE. Schwab Charles Investment Management Inc. increased its holdings in Clean Energy Fuels by 19.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 472,455 shares of the utilities provider’s stock valued at $1,201,000 after buying an additional 78,007 shares during the last quarter. Rhumbline Advisers increased its holdings in Clean Energy Fuels by 48.1% during the second quarter. Rhumbline Advisers now owns 160,278 shares of the utilities provider’s stock valued at $407,000 after buying an additional 52,029 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Clean Energy Fuels by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 690,678 shares of the utilities provider’s stock valued at $1,754,000 after buying an additional 84,325 shares during the last quarter. KBC Group NV increased its holdings in Clean Energy Fuels by 24.4% during the second quarter. KBC Group NV now owns 61,525 shares of the utilities provider’s stock valued at $156,000 after buying an additional 12,087 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Clean Energy Fuels by 49.8% during the second quarter. Alliancebernstein L.P. now owns 109,254 shares of the utilities provider’s stock valued at $278,000 after buying an additional 36,300 shares during the last quarter. 35.47% of the stock is owned by institutional investors and hedge funds.

Shares of Clean Energy Fuels (NASDAQ CLNE) traded down $0.02 during trading on Wednesday, reaching $2.07. 889,500 shares of the company’s stock traded hands, compared to its average volume of 1,160,000. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.52 and a quick ratio of 3.05. The stock has a market capitalization of $312.75, a PE ratio of -5.59 and a beta of 1.85. Clean Energy Fuels has a twelve month low of $1.96 and a twelve month high of $3.12.

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Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.

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