Brokerages Expect Vivint Solar Inc (NYSE:VSLR) Will Post Quarterly Sales of $98.35 Million

Equities research analysts forecast that Vivint Solar Inc (NYSE:VSLR) will post sales of $98.35 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Vivint Solar’s earnings. The lowest sales estimate is $92.50 million and the highest is $104.20 million. Vivint Solar posted sales of $77.82 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.4%. The company is expected to issue its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Vivint Solar will report full-year sales of $341.65 million for the current year, with estimates ranging from $334.80 million to $348.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $400.50 million, with estimates ranging from $373.50 million to $427.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Vivint Solar.

Vivint Solar (NYSE:VSLR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.17). The company had revenue of $90.80 million during the quarter, compared to analyst estimates of $91.92 million. Vivint Solar had a negative net margin of 25.06% and a negative return on equity of 97.07%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) EPS.

Several brokerages have commented on VSLR. Oppenheimer set a $11.00 target price on Vivint Solar and gave the stock a “buy” rating in a research note on Friday, August 9th. Zacks Investment Research raised Vivint Solar from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. KeyCorp began coverage on Vivint Solar in a research note on Monday. They set an “overweight” rating and a $12.00 target price for the company. Citigroup raised Vivint Solar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.25 to $8.50 in a research note on Tuesday, May 7th. Finally, Bank of America boosted their target price on Vivint Solar from $12.50 to $14.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $11.25.

In other news, CFO Dana C. Russell sold 4,210 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.75, for a total transaction of $28,417.50. Following the sale, the chief financial officer now directly owns 312,439 shares in the company, valued at $2,108,963.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Todd R. Pedersen sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $6.97, for a total value of $697,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 347,955 shares of company stock worth $2,580,648. Company insiders own 4.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in Vivint Solar by 1,260.2% in the second quarter. Bank of Montreal Can now owns 3,659 shares of the company’s stock valued at $27,000 after acquiring an additional 3,390 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Vivint Solar in the second quarter valued at approximately $37,000. BNP Paribas Arbitrage SA boosted its holdings in Vivint Solar by 742.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,768 shares of the company’s stock valued at $44,000 after acquiring an additional 7,727 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Vivint Solar in the fourth quarter valued at approximately $67,000. Finally, Weiss Asset Management LP boosted its holdings in Vivint Solar by 28.0% in the first quarter. Weiss Asset Management LP now owns 20,574 shares of the company’s stock valued at $102,000 after acquiring an additional 4,495 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

NYSE VSLR traded down $0.11 during trading on Thursday, hitting $8.39. 923,900 shares of the company’s stock were exchanged, compared to its average volume of 890,726. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 3.70. The company has a market cap of $1.03 billion, a PE ratio of -3.53 and a beta of 0.36. Vivint Solar has a fifty-two week low of $3.55 and a fifty-two week high of $9.82. The stock’s 50 day moving average price is $8.08 and its two-hundred day moving average price is $6.38.

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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