Infrastructure and Energy Alternatives (IEA) Expected to Announce Quarterly Sales of $144.30 Million

Wall Street analysts expect that Infrastructure and Energy Alternatives (NYSE:IEA) will report sales of $144.30 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Infrastructure and Energy Alternatives’ earnings. The highest sales estimate is $165.00 million and the lowest is $123.60 million. Infrastructure and Energy Alternatives posted sales of $50.14 million during the same quarter last year, which would indicate a positive year over year growth rate of 187.8%. The company is scheduled to announce its next earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Infrastructure and Energy Alternatives will report full year sales of $0.00 for the current year. For the next year, analysts forecast that the firm will post sales of $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Infrastructure and Energy Alternatives.

Infrastructure and Energy Alternatives (NYSE:IEA) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($1.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.96). The firm had revenue of $275.86 million during the quarter, compared to analyst estimates of $279.14 million.



Several research analysts have recently issued reports on the company. Zacks Investment Research cut Infrastructure and Energy Alternatives from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. DA Davidson reduced their target price on Infrastructure and Energy Alternatives from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 20th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc boosted its stake in Infrastructure and Energy Alternatives by 36.6% during the 3rd quarter. Vanguard Group Inc now owns 499,605 shares of the company’s stock valued at $5,245,000 after purchasing an additional 133,763 shares during the period. Vanguard Group Inc. lifted its position in shares of Infrastructure and Energy Alternatives by 36.6% in the 3rd quarter. Vanguard Group Inc. now owns 499,605 shares of the company’s stock worth $5,245,000 after acquiring an additional 133,763 shares during the period. Perritt Capital Management Inc. lifted its position in shares of Infrastructure and Energy Alternatives by 44.1% during the 4th quarter. Perritt Capital Management Inc. now owns 307,839 shares of the company’s stock worth $2,521,000 after buying an additional 94,139 shares during the period. Royce & Associates LP lifted its position in shares of Infrastructure and Energy Alternatives by 15.9% during the 4th quarter. Royce & Associates LP now owns 875,100 shares of the company’s stock worth $7,167,000 after buying an additional 120,100 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Infrastructure and Energy Alternatives by 131.0% during the 3rd quarter. Renaissance Technologies LLC now owns 238,423 shares of the company’s stock worth $2,503,000 after buying an additional 135,200 shares during the period.

IEA traded up $0.20 during trading on Wednesday, reaching $5.04. 195,500 shares of the company were exchanged, compared to its average volume of 54,603. Infrastructure and Energy Alternatives has a 52 week low of $4.38 and a 52 week high of $11.27.

About Infrastructure and Energy Alternatives

Infrastructure and Energy Alternatives, Inc, an infrastructure construction company, provides engineering, procurement, construction, and maintenance services. It offers design, site development, construction, installation, and restoration of infrastructure services for the wind, solar, thermal, and biomass/alternative fuel power plants; and highways, bridges, and railroads, as well as provides other industrial services.

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