Sunnova Energy International Inc. (NYSE:NOVA) Expected to Post FY2023 Earnings of ($2.79) Per Share

Sunnova Energy International Inc. (NYSE:NOVAFree Report) – Stock analysts at B. Riley cut their FY2023 earnings per share estimates for shares of Sunnova Energy International in a research report issued to clients and investors on Monday, February 5th. B. Riley analyst C. Souther now forecasts that the company will post earnings of ($2.79) per share for the year, down from their prior estimate of ($1.75). B. Riley has a “Buy” rating and a $21.00 price objective on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.04) per share. B. Riley also issued estimates for Sunnova Energy International’s Q4 2023 earnings at ($0.82) EPS, Q1 2024 earnings at ($0.83) EPS, Q2 2024 earnings at ($0.51) EPS, Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.82) EPS and FY2024 earnings at ($2.73) EPS.

Several other analysts have also weighed in on NOVA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.50 price objective (down previously from $23.00) on shares of Sunnova Energy International in a report on Friday, October 20th. Royal Bank of Canada cut their price objective on Sunnova Energy International from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Morgan Stanley cut their target price on Sunnova Energy International from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, December 8th. Citigroup raised Sunnova Energy International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $22.00 to $14.00 in a research report on Tuesday, October 17th. Finally, The Goldman Sachs Group raised Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Monday, December 18th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.33.

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Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $9.07 on Wednesday. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.14 and a current ratio of 1.14. The business has a fifty day simple moving average of $12.35 and a 200-day simple moving average of $12.23. Sunnova Energy International has a fifty-two week low of $7.61 and a fifty-two week high of $24.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its stake in shares of Sunnova Energy International by 23.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock worth $387,000 after acquiring an additional 907 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Sunnova Energy International by 185.3% during the 1st quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock worth $964,000 after acquiring an additional 27,160 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Sunnova Energy International by 199.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock valued at $1,095,000 after purchasing an additional 31,646 shares during the period. US Bancorp DE boosted its stake in Sunnova Energy International by 168.8% during the 1st quarter. US Bancorp DE now owns 2,809 shares of the company’s stock valued at $65,000 after purchasing an additional 1,764 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in Sunnova Energy International by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 47,065 shares of the company’s stock valued at $1,085,000 after purchasing an additional 16,426 shares during the period.

Sunnova Energy International Company Profile

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Sunnova Energy International Inc provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers.

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Earnings History and Estimates for Sunnova Energy International (NYSE:NOVA)

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