EnerNOC (ENOC) reported good earnings results that beat analyst estimates, but the stock is trading down more than 10% most likely due to weaker than expected guidance. The company reported a non GAAP EPS of $1.81/share vs the analyst estimate of $1.56 on revenues of $162.8 million vs the analyst estimate of $160.8 million. Those numbers represent quarter over quarter growth of 39% in EPS and 58% in revenues, so a nice quarter.
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JMP Securities is bullish on a few green stocks due to an expected increase in electricity demand which the firm sees sparking increased efforts to develop alternative energy solutions. They see good value in demand response players EnerNOC (ENOC) and Comverge (COMV) as well as US solar company Sunpower (SPWRA) and have an Outperform rating on all three.
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Analysts have weighed in on Itron … Read the rest
According to the Boston Business Journal, EnerNOC (ENOC) is on the acquisition trail, looking to accelerate growth by buying small companies in the emerging clean energy space. CEO Tim Healy acknowledged the industry is ripe for consolidation and that larger companies are looking to add to their alternative energy portfolios as well through acquisition.
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“We’ve been acquisitive in the past, but modestly acquisitive,” said Healy, … Read the rest
Piper Jaffray has resumed coverage of a few smart grid stocks according to Street Insider.
Comverge (COMV) at Overweight and $12 price target.
“We believe Comverge’s diversified demand response platform, and growing presence in the commercial & industrial (C&I) segment, will result in significant revenue growth over the next 2 years with a healthy profitability inflection point being reached in 2H11.”
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Itron (ITRI) at Neutral … Read the rest
EnerNOC (ENOC) reported very strong earnings results this morning, but traders feel much of that is priced in already as the stock is off about 6% on heavy volume. Two analysts came out with opposing views.. ah that’s what makes a market eh? Hat tip to Street Insider for the analyst comments.
Needham & Company reiterated its Buy rating on EnerNOC (ENOC) and $37 price target. “The demand response space is proving to be fundamentally … Read the rest
Everyone expected emerging demand response leader EnerNOC (ENOC) to have a great quarter, but it was MUCH better than expected on the EPS side. While the company posted a revenue number that was about 5% below analyst expectations at $66.5 million, the EPS number of .17/share smashed the estimate of .03/share.
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CEO Tim Healy commented on the quarter, saying, “We are approaching 5,000 megawatts under management … Read the rest
Needham & Company is reiterating its Buy rating on Comverge (COMV) and price target of $14 after the company reported earnings last night. Hat tip to Street Insider for the analyst comments.
“We continue to view Comverge’s momentum in US residential (along with its improving presence in C&I) as vital to maintaining its position among the elite in the evolving demand response space. Further, we hold a positive view of the company’s growing turnkey … Read the rest
Needham has initiated coverage on EnerNOC (ENOC) this morning with a Buy rating and $37 price target. Hat tip to Street Insider for the analyst comment.
===> Click Here For Your FREE EnerNOC Analysis
“EnerNOC holds the top position among Demand Response (DR) providers in addition to a commanding lead in the C&I space, that appears poised to improve even more in coming years. Further, the company’s technology is industry-leading, provides a scalable platform and … Read the rest
Jesse Pichel, who was formerly at Piper Jaffray, is now at Jefferies and initiating coverage on many green stocks. Hat tip to Street Insider for the ratings.
Buy Rating:
JA Solar (JASO) – $8 price target
Yingli Green Energy (YGE) – $15 price target
Trina Solar (TSL) – $35 price target
Itron (ITRI) – $74 price target
EnerSys (ENS) – $28 price target
American Superconductor (AMSC) – $35 price target
EnerNOC (ENOC) – $38 price … Read the rest
A few analyst rating changes for today..
Hat tip to Street Insider for the analyst commentary.
Canaccord Genuity maintains Buy rating on Casella Waste Systems (CWST) and has a price target of $6 which is more than 50% higher than current levels. “We maintain our BUY on CWST with higher confidence that the company can improve recycling volumes within its recycling segment this fiscal year.” Shares of CWST aren’t moving on the positive comments, down … Read the rest