SolarCity Corp. (SCTY) Scheduled to Post Quarterly Earnings on Wednesday

SolarCity Corp. (NASDAQ:SCTY) is scheduled to announce its earnings results after the market closes on Wednesday, July 27th. Analysts expect the company to announce earnings of ($2.47) per share for the quarter. SolarCity Corp. has set its Q2 guidance at ($2.80)-($2.70) EPS.

SolarCity Corp. (NASDAQ:SCTY) last issued its earnings results on Monday, May 9th. The renewable energy company reported ($2.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.34) by $0.22. During the same quarter last year, the business earned ($1.52) earnings per share. The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $108.44 million. The business’s revenue for the quarter was up 81.6% compared to the same quarter last year. On average, analysts expect SolarCity Corp. to post $-10.04 EPS for the current fiscal year and $-9.63 EPS for the next fiscal year.

SCTY has been the subject of a number of research analyst reports. Axiom Securities reaffirmed a “sell” rating on shares of SolarCity Corp. in a report on Tuesday, March 29th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $49.00 price target on shares of SolarCity Corp. in a report on Thursday, March 31st. Vetr cut SolarCity Corp. from a “strong-buy” rating to a “buy” rating and set a $26.87 price target for the company. in a report on Thursday, March 31st. Raymond James Financial Inc. raised SolarCity Corp. from an “outperform” rating to a “strong-buy” rating and set a $26.35 price target for the company in a report on Friday, April 1st. Finally, Stifel Nicolaus cut their price target on SolarCity Corp. from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 4th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.55.

In other SolarCity Corp. news, CRO Hayden Barnard sold 3,428 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $20.35, for a total transaction of $69,759.80. Following the completion of the transaction, the executive now owns 137,374 shares of the company’s stock, valued at approximately $2,795,560.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tanguy Serra sold 2,617 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $20.51, for a total value of $53,674.67. Following the transaction, the chief financial officer now directly owns 23,088 shares of the company’s stock, valued at approximately $473,534.88. The disclosure for this sale can be found here.

Shares of SolarCity Corp. (NASDAQ:SCTY) traded down 0.25% during mid-day trading on Tuesday, hitting $27.43. 3,062,834 shares of the company’s stock were exchanged. SolarCity Corp. has a 52 week low of $16.31 and a 52 week high of $61.72. The firm has a 50 day moving average price of $23.68 and a 200-day moving average price of $25.53. The company’s market capitalization is $2.70 billion.

SolarCity Corporation sells renewable energy. The Company is engaged in the design, manufacture, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers. The Company operates through solar energy products and services segment.