Analysts Offer Predictions for NOVA FY2024 Earnings

Sunnova Energy International Inc. (NYSE:NOVA) – Equities research analysts at Capital One Financial issued their FY2024 earnings per share estimates for shares of Sunnova Energy International in a report released on Tuesday, December 31st. Capital One Financial analyst W. Suki anticipates that the company will post earnings per share of ($3.57) for the year. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.44) per share. Capital One Financial also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($1.74) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.82) EPS and FY2025 earnings at ($3.22) EPS.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group began coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 target price on the stock. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Piper Sandler decreased their target price on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Robert W. Baird lowered their price target on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Sunnova Energy International presently has a consensus rating of “Hold” and an average price target of $10.24.

Sunnova Energy International Price Performance

NYSE NOVA opened at $4.26 on Friday. The stock has a market cap of $532.30 million, a price-to-earnings ratio of -1.27 and a beta of 2.22. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $14.44. The company’s 50 day moving average is $4.38 and its two-hundred day moving average is $6.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business earned ($0.53) EPS.

Insiders Place Their Bets

In other Sunnova Energy International news, CFO Eric Michael Williams acquired 13,800 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Akbar Mohamed bought 50,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $3.64 per share, with a total value of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares of the company’s stock, valued at approximately $1,283,660.56. The trade was a 16.52 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock valued at $439,605 over the last three months. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in Sunnova Energy International by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock worth $2,203,000 after acquiring an additional 48,119 shares during the period. nVerses Capital LLC boosted its stake in shares of Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after purchasing an additional 8,800 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Sunnova Energy International by 17.4% during the second quarter. Rhumbline Advisers now owns 222,074 shares of the company’s stock valued at $1,239,000 after purchasing an additional 32,858 shares in the last quarter. Ballentine Partners LLC increased its holdings in Sunnova Energy International by 72.2% during the second quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock valued at $104,000 after buying an additional 7,783 shares during the period. Finally, American Century Companies Inc. raised its stake in Sunnova Energy International by 14.2% in the second quarter. American Century Companies Inc. now owns 173,283 shares of the company’s stock worth $967,000 after buying an additional 21,492 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.