Wall Street analysts expect Vivint Solar, Inc. (NYSE:VSLR) to post $71.82 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made 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 reported sales of $41.26 million in the same quarter last year, which indicates a positive year over year growth rate of 74.1%. The firm is scheduled to announce its next earnings report on Tuesday, November 14th.
On average, analysts expect that Vivint Solar will report full year sales of $71.82 million for the current year, with estimates ranging from $259.80 million to $261.29 million. For the next year, analysts expect that the business will report sales of $324.60 million per share. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Vivint Solar.
Vivint Solar (NYSE:VSLR) last released its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.07. Vivint Solar had a negative return on equity of 26.46% and a net margin of 26.35%. The business had revenue of $73.00 million during the quarter, compared to analyst estimates of $65.41 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 109.2% compared to the same quarter last year.
VSLR has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) upgraded Vivint Solar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.50 to $6.00 in a research report on Tuesday, June 20th. ValuEngine upgraded Vivint Solar from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Zacks Investment Research upgraded Vivint Solar from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Saturday, August 12th. BidaskClub lowered Vivint Solar from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Deutsche Bank AG lowered Vivint Solar from a “buy” rating to a “hold” rating and set a $6.00 price target on the stock. in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Vivint Solar has a consensus rating of “Hold” and a consensus target price of $4.65.
In other Vivint Solar news, CEO David Bywater sold 35,000 shares of the 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 transaction, the chief executive officer now directly owns 620,674 shares in the company, valued at approximately $3,258,538.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Bryan Christiansen sold 27,033 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $5.50, for a total value of $148,681.50. The disclosure for this sale can be found here. Insiders sold a total of 391,761 shares of company stock worth $2,062,928 over the last quarter. Corporate insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. IPG Investment Advisors LLC bought a new position in Vivint Solar in the 1st quarter valued at $112,000. OMERS ADMINISTRATION Corp bought a new position in Vivint Solar in the 1st quarter valued at $118,000. Bank of New York Mellon Corp boosted its position in Vivint Solar by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 152,176 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 914 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Vivint Solar by 108.3% in the 1st quarter. Neuberger Berman Group LLC now owns 101,935 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 53,000 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Vivint Solar by 235.2% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 95.15% of the company’s stock.
Vivint Solar (NYSE VSLR) traded up 2.11% on Tuesday, reaching $4.85. The company had a trading volume of 159,468 shares. The stock has a market cap of $555.16 million, a price-to-earnings ratio of 10.19 and a beta of -0.23. Vivint Solar has a one year low of $2.50 and a one year high of $6.09. The company has a 50-day moving average of $4.92 and a 200 day moving average of $3.92.
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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