Energy

What to Expect From Vivint Solar Earnings

Chris Lange

Published: November 8, 2016 10:15 am

Last Updated: January 13, 2020 1:20 am

Vivint Solar Inc. (NYSE: VSLR) is scheduled to report its third-quarter financial results after the markets close on Tuesday. The consensus estimates from Thomson Reuters call for a net loss of $0.45 per share and $43.48 million in revenue. The same period of last year reportedly had a net loss of $0.47 per share and revenue of $22.47 million.

The company recently expanded its term loan facility, a five-year $313 million term. A recent report from Oppenheimer suggests that Vivint Solar is demonstrating its ability to close large deals in a relatively short time frame. The report noted that that this residential solar energy system installer will still have to raise additional tax equity for the fourth quarter of 2016 and 2017 deployments. Oppenheimer’s Colin Rusch expects that the company will close a facility in a timely manner, considering the wide availability of tax equity.

Rusch raised Vivint Solar’s rating from Perform to Outperform and assigned a $7 price target. If Rusch is correct, that represents more than 100% upside from the $3.19 close on Monday.

Just a few other analysts weighed in on Vivint ahead of the earnings report:

• Credit Suisse reiterated a Neutral rating with a $4 price target.
• Goldman Sachs reiterated a Neutral rating with a $3.50 price target.
• JMP Securities has a Market Perform rating.
• Deutsche Bank has a Buy rating with a $6 price target.

So far in 2016, Vivint has underperformed the broad markets, with the stock down 69%.

Shares of Vivint were trading at $3.05 Tuesday morning, with a consensus analyst price target of $5.70 and a 52-week trading range of $2.16 to $11.18.