Zacks: Brokerages Anticipate Orion Energy Systems, Inc. (OESX) Will Announce Quarterly Sales of $17.98 Million

Equities analysts expect Orion Energy Systems, Inc. (NASDAQ:OESX) to post $17.98 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Orion Energy Systems’ earnings. The highest sales estimate is $21.80 million and the lowest is $14.80 million. Orion Energy Systems reported sales of $15.29 million during the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The firm is expected to report its next earnings report on Thursday, June 14th.

On average, analysts expect that Orion Energy Systems will report full-year sales of $17.98 million for the current financial year, with estimates ranging from $60.00 million to $62.59 million. For the next year, analysts anticipate that the company will post sales of $70.36 million per share, with estimates ranging from $65.00 million to $74.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Orion Energy Systems.

Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings results on Wednesday, February 7th. The electronics maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $17.26 million during the quarter, compared to the consensus estimate of $18.55 million. Orion Energy Systems had a negative net margin of 31.32% and a negative return on equity of 57.15%.

OESX has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating on shares of Orion Energy Systems in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Orion Energy Systems from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $1.33.

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund grew its stake in shares of Orion Energy Systems by 11.3% in the second quarter. New York State Common Retirement Fund now owns 570,230 shares of the electronics maker’s stock worth $730,000 after purchasing an additional 57,799 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Orion Energy Systems by 13.4% in the fourth quarter. Renaissance Technologies LLC now owns 955,667 shares of the electronics maker’s stock worth $841,000 after purchasing an additional 112,967 shares during the last quarter. Finally, Ariel Investments LLC grew its stake in shares of Orion Energy Systems by 4.8% in the fourth quarter. Ariel Investments LLC now owns 5,267,011 shares of the electronics maker’s stock worth $4,635,000 after purchasing an additional 239,596 shares during the last quarter. 43.15% of the stock is currently owned by institutional investors.

Orion Energy Systems (OESX) opened at $0.85 on Thursday. The stock has a market cap of $23.00, a price-to-earnings ratio of -1.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.78. Orion Energy Systems has a 1-year low of $0.73 and a 1-year high of $2.11.

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About Orion Energy Systems

Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.

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