Vivint Solar, Inc. (VSLR) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS
Vivint Solar, Inc. (NYSE:VSLR) issued its quarterly earnings results on Tuesday. The semiconductor company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07, Bloomberg Earnings reports. Vivint Solar had a negative return on equity of 29.10% and a net margin of 36.54%. The company had revenue of $73 million for the quarter, compared to analysts’ expectations of $65.41 million. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 109.2% on a year-over-year basis.
Vivint Solar (VSLR) traded down 2.00% during midday trading on Wednesday, hitting $4.90. The stock had a trading volume of 696,230 shares. Vivint Solar has a one year low of $2.50 and a one year high of $6.09. The company has a market cap of $541.82 million, a P/E ratio of 9.12 and a beta of -0.25. The stock’s 50-day moving average is $5.40 and its 200-day moving average is $3.61.
In other Vivint Solar news, CEO David Bywater sold 201,200 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $2.84, for a total transaction of $571,408.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider L. Chance Allred sold 30,700 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $3.10, for a total transaction of $95,170.00. The disclosure for this sale can be found here. Insiders sold a total of 855,561 shares of company stock valued at $3,394,270 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of Vivint Solar by 9.8% in the second quarter. Rhumbline Advisers now owns 28,571 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 2,549 shares during the last quarter. IPG Investment Advisors LLC acquired a new stake in shares of Vivint Solar during the first quarter valued at approximately $112,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Vivint Solar during the first quarter valued at approximately $118,000. JPMorgan Chase & Co. acquired a new stake in shares of Vivint Solar during the second quarter valued at approximately $278,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Vivint Solar by 79.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,013 shares of the semiconductor company’s stock valued at $416,000 after buying an additional 31,361 shares during the last quarter. Institutional investors own 93.72% of the company’s stock.
Several equities analysts have recently issued reports on the company. Deutsche Bank AG cut 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. Credit Suisse Group set a $4.00 price target on Vivint Solar and gave the company a “hold” rating in a research report on Monday, May 8th. ValuEngine upgraded Vivint Solar from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded Vivint Solar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $3.50 to $6.00 in a research report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Vivint Solar from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $5.32.
Vivint Solar Company Profile
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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