A few analyst notes to tell you about this morning on EnerNOC (ENOC) which reported earnings last night and Evergreen (ESLR) which reported uninspiring results two days ago. Clearly, these companies are heading in opposite directions and the analysts agree. Hat tip to Street Insider for the following analyst comments.
Both UBS and Citi maintain their Sell ratings on ESLR. UBS lowered the price target to below a buck at .90 and the FY10 EPS … Read the rest
Ormat Tech (ORA), the geothermal giant, beat Wall ST estimates on both the EPS and revenue side this morning. The company reported an EPS 1 cent better than estimates at .04/share and revenues about $5 million higher than estimates at $82.7 million. While the company beat low expectations, that’s a big haircut on the EPS side from the year ago quarter when the company posted .28/share. Revenues declined about 20%.
SunPower has just announced that it has been selected to build a 1.3MW solar power plant in Italy for Solar Green Energy-SGE, a JV between EDF subsidiary EDF-EN Italia and Italian project developer Emmecidue. The plant, which is to be located in the Lazio region, will consist of 96-cell, E 18 / 305 solar panels and SunPower T0 Tracker systems.
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In a press release, Gian Maria … Read the rest
Fuel Systems Solutions (FSYS) smashed Wall St EPS estimates of .92/share by reporting $1.59/share, which is a nearly 300% increase over the year ago quarter. Revenues were also impressive, more than doubling from the year ago quarter to $161.70 million. The company did say after it’s last earnings report that they did expect another strong quarter due to a surge in demand because of expiring Italian subsidies for CNG vehicles, but that it would be … Read the rest
Real Goods Solar (RSOL) posted a real good quarter after the bell today, surprising Wall St by reporting a profit. Ok, the profit was miniscule at $17k, but it was much better than the .04/share loss analysts had expected and marked the 3rd straight quarter of profitability. Revenues matched analyst estimates of $15 million and represented a 58% improvement over the year ago quarter. The company attributed the improved margins to better installation practices, solar … Read the rest
EnerNOC (ENOC) reported results after the bell that were stronger than Wall St forecasts. The company posted a narrower loss of .41/share vs the estimate of .69/share loss on revenues of $28.1 million which beat estimates by about $2 million. That’s a nice beat and considerably better than the year ago quarter when the company posted a loss of .48/share. Revenues increased 53% over the year ago quarter. I’m not sure the results were strong … Read the rest
Last night I posted the Well Fargo analyst notes on STP, TSL & SOL as the firm initiated coverage of the sector. This morning I have a few more notes for SOLF, YGE & CSIQ courtesy of Street Insider.
Wells Fargo initiates coverage of Solarfun (SOLF) with an Outperform and valuation range of $10-$12.50. They believe that SOLF has been unappreciated in the past and that with a new management team and improving cost … Read the rest
Auriga is out upgrading Canadian Solar (CSIQ) this morning to Buy from Hold, but lowered the price target from $25 to $21. The firm believes that CSIQ’s pre-announcement in which it announced a Forex hit as well as lower margins, has been priced in for the most part ahead of earnings (no official date announced yet).
Says the firm: “The gross margin decline was worse than expected, and when combined with the charge to Other … Read the rest
Google just announced that it is investing, via tax equity investments, $38.8 million in 2 wind farms in North Dakota: Ashtabula 2, a 120 MW facility and Wilton Wind 2, a 49.5 MW facility. The wind farms were developed by NextEra Energy Resources, a subsidiary of FPL Group.
In a blog post, Rick Needham, Google’s Green Business Operations Manager explained the investment:
“Smart capital includes not only these early-stage company investments, but also dedicated … Read the rest
ABB has just announced that it is acquiring Ventyx, an energy management software provider, for more than $1 billion cash. The purchase is pending regulatory approvals and should be complete by the second quarter of 2010.
In a press release, Joe Hogan, ABB’s CEO, explained why purchasing Ventyx should be advantageous for ABB:
“The big advantage for energy companies, utilities and industrial customers is that they will now have a single supplier of enterprise-wide … Read the rest