Clean Energy Fuels Corp (CLNE) Expected to Announce Quarterly Sales of $85.35 Million

Equities research analysts expect that Clean Energy Fuels Corp (NASDAQ:CLNE) will announce $85.35 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided 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 reported sales of $101.83 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 16.2%. The business is expected to report its next quarterly earnings results on Tuesday, March 6th.

On average, analysts expect that Clean Energy Fuels will report full year sales of $85.35 million for the current financial year, with estimates ranging from $334.90 million to $344.00 million. For the next financial year, analysts forecast that the company will post sales of $351.10 million per share, with estimates ranging from $345.20 million to $357.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Clean Energy Fuels.

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

A number of analysts have recently commented on the company. Zacks Investment Research cut Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. BidaskClub cut Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 9th. Finally, ValuEngine cut Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th.

Shares of Clean Energy Fuels (NASDAQ CLNE) opened at $1.74 on Friday. The company has a current ratio of 3.52, a quick ratio of 3.05 and a debt-to-equity ratio of 0.48. Clean Energy Fuels has a 52-week low of $1.58 and a 52-week high of $3.12. The company has a market capitalization of $247.78, a PE ratio of -4.70 and a beta of 1.85.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Clean Energy Fuels by 8.2% in the 2nd quarter. Vanguard Group Inc. now owns 10,419,084 shares of the utilities provider’s stock valued at $26,464,000 after acquiring an additional 792,870 shares during the period. Dimensional Fund Advisors LP increased its position in Clean Energy Fuels by 17.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,372,743 shares of the utilities provider’s stock valued at $18,285,000 after acquiring an additional 1,091,669 shares during the period. State Street Corp increased its position in Clean Energy Fuels by 32.3% in the 2nd quarter. State Street Corp now owns 2,163,793 shares of the utilities provider’s stock valued at $5,499,000 after acquiring an additional 528,761 shares during the period. Northern Trust Corp increased its position in Clean Energy Fuels by 36.9% in the 2nd quarter. Northern Trust Corp now owns 1,517,815 shares of the utilities provider’s stock valued at $3,855,000 after acquiring an additional 409,351 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Clean Energy Fuels by 18.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,452,396 shares of the utilities provider’s stock valued at $3,689,000 after acquiring an additional 228,553 shares during the period. Hedge funds and other institutional investors own 35.51% of the company’s stock.

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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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