Wall Street analysts expect Vivint Solar Inc (NYSE:VSLR) to announce sales of $91.90 million for the current quarter, according to Zacks. Two analysts have provided estimates for Vivint Solar’s earnings, with the highest sales estimate coming in at $100.80 million and the lowest estimate coming in at $83.00 million. Vivint Solar posted sales of $80.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.7%. The company is expected to issue its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Vivint Solar will report full-year sales of $341.25 million for the current financial year, with estimates ranging from $327.10 million to $355.40 million. For the next financial year, analysts forecast that the company will post sales of $395.15 million, with estimates ranging from $365.80 million to $424.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Vivint Solar.
Vivint Solar (NYSE:VSLR) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.30). The firm had revenue of $63.46 million during the quarter, compared to analysts’ expectations of $69.70 million. Vivint Solar had a negative net margin of 9.90% and a negative return on equity of 87.03%.
A number of brokerages recently issued reports on VSLR. Zacks Investment Research upgraded Vivint Solar from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Citigroup upgraded Vivint Solar from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.25 to $8.50 in a report on Tuesday, May 7th. Roth Capital began coverage on shares of Vivint Solar in a research note on Monday, May 6th. They issued a “buy” rating and a $10.00 price objective for the company. ValuEngine raised shares of Vivint Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. Finally, Bank of America boosted their price objective on shares of Vivint Solar from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $10.13.
Shares of NYSE VSLR opened at $6.32 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $729.70 million, a P/E ratio of -2.66 and a beta of 0.53. Vivint Solar has a 52-week low of $3.55 and a 52-week high of $7.44.
In other news, COO Bryan Christiansen sold 16,834 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $6.75, for a total transaction of $113,629.50. Following the transaction, the chief operating officer now directly owns 220,263 shares of the company’s stock, valued at $1,486,775.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Bywater sold 21,700 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $4.62, for a total value of $100,254.00. Following the transaction, the chief executive officer now directly owns 1,304,697 shares in the company, valued at $6,027,700.14. The disclosure for this sale can be found here. Insiders sold 403,412 shares of company stock valued at $2,460,854 in the last three months. 4.20% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of VSLR. FMR LLC increased its position in shares of Vivint Solar by 27.5% during the fourth quarter. FMR LLC now owns 13,610,979 shares of the company’s stock worth $51,857,000 after purchasing an additional 2,931,932 shares in the last quarter. Delek Group Ltd. acquired a new position in shares of Vivint Solar during the first quarter worth $3,726,000. Norges Bank acquired a new position in shares of Vivint Solar during the fourth quarter worth $2,712,000. BlackRock Inc. increased its position in shares of Vivint Solar by 30.2% during the first quarter. BlackRock Inc. now owns 2,716,056 shares of the company’s stock worth $13,499,000 after purchasing an additional 630,649 shares in the last quarter. Finally, GCA Investment Management LLC increased its position in shares of Vivint Solar by 84.5% during the fourth quarter. GCA Investment Management LLC now owns 1,177,743 shares of the company’s stock worth $4,487,000 after purchasing an additional 539,458 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.
Vivint Solar Company Profile
Vivint Solar, Inc provides distributed solar energy primarily to residential customers in the United States. It owns and installs solar energy systems through long-term customer contracts. The company also sells photovoltaic installation products, as well as solar renewable energy certificates. As of December 31, 2018, it had an aggregate capacity of 1,060.9 megawatts covering approximately 154,600 homes.
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