Q3 2024 Earnings Forecast for Sunnova Energy International Inc. Issued By Northland Capmk (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Investment analysts at Northland Capmk lowered their Q3 2024 EPS estimates for shares of Sunnova Energy International in a research note issued on Monday, August 5th. Northland Capmk analyst D. Schafer now forecasts that the company will earn ($0.48) per share for the quarter, down from their prior forecast of ($0.34). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($1.89) per share. Northland Capmk also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($0.46) EPS and FY2024 earnings at ($1.78) EPS.

Several other brokerages have also recently weighed in on NOVA. Guggenheim upped their price objective on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. B. Riley reduced their price objective on Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays decreased their price target on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Susquehanna raised their price target on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA traded down $0.35 on Thursday, hitting $6.93. The stock had a trading volume of 6,267,649 shares, compared to its average volume of 8,436,967. The firm’s 50 day moving average price is $6.39 and its 200-day moving average price is $6.35. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.78. The company has a market capitalization of $859.20 million, a price-to-earnings ratio of -2.06 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 9.28%. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. During the same period last year, the firm earned ($0.74) EPS. The firm’s revenue for the quarter was up 32.0% compared to the same quarter last year.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after buying an additional 81,653 shares during the period. Van ECK Associates Corp grew its position in Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sunnova Energy International by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after acquiring an additional 61,953 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Sunnova Energy International by 3,168.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock worth $3,519,000 after purchasing an additional 556,563 shares in the last quarter.

About Sunnova Energy International

Sunnova Energy International Inc engages in the provision of energy as a service in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and solar energy system and energy storage system diagnostics services.