Vivint Solar (NYSE:VSLR) released its quarterly earnings results on Thursday. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.16), Morningstar.com reports. The company had revenue of $69.40 million during the quarter, compared to analysts’ expectations of $67.25 million. Vivint Solar had a negative net margin of 9.90% and a negative return on equity of 86.71%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.53) earnings per share.
Shares of Vivint Solar stock traded down $0.19 during trading hours on Friday, hitting $6.42. 1,264,181 shares of the company’s stock traded hands, compared to its average volume of 775,353. Vivint Solar has a 12-month low of $3.55 and a 12-month high of $7.44. The firm has a market cap of $797.24 million, a PE ratio of -2.70 and a beta of 0.53. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.67 and a quick ratio of 1.59.
A number of equities research analysts recently commented on VSLR shares. Bank of America increased their price target on Vivint Solar from $9.50 to $10.00 and gave the company a “buy” rating in a research report on Monday, March 11th. JMP Securities reissued a “buy” rating and issued a $12.00 price target on shares of Vivint Solar in a research report on Wednesday, March 6th. ValuEngine raised Vivint Solar from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Citigroup raised Vivint Solar from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.25 to $8.50 in a research report on Tuesday. Finally, Roth Capital started coverage on Vivint Solar in a research report on Monday, May 6th. They issued a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.13.
A number of institutional investors and hedge funds have recently made changes to their positions in VSLR. BNP Paribas Arbitrage SA increased its holdings in Vivint Solar by 742.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,768 shares of the company’s stock worth $44,000 after acquiring an additional 7,727 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Vivint Solar in the 4th quarter worth about $57,000. Mitchell Capital Management Co. increased its holdings in Vivint Solar by 68.0% in the 4th quarter. Mitchell Capital Management Co. now owns 16,800 shares of the company’s stock worth $64,000 after acquiring an additional 6,800 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Vivint Solar in the 4th quarter worth about $67,000. Finally, Mackenzie Financial Corp purchased a new stake in Vivint Solar in the 4th quarter worth about $75,000. 91.72% of the stock is owned by institutional investors.
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About Vivint Solar
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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