Zacks: Brokerages Anticipate Clean Energy Fuels Corp (CLNE) Will Post Quarterly Sales of $85.35 Million
Analysts expect that Clean Energy Fuels Corp (NASDAQ:CLNE) will report $85.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Clean Energy Fuels’ earnings. The lowest sales estimate is $82.60 million and the highest is $88.10 million. Clean Energy Fuels reported sales of $101.83 million in the same quarter last year, which indicates a negative year over year growth rate of 16.2%. The business is scheduled to announce its next earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Clean Energy Fuels will report full-year sales of $85.35 million for the current fiscal year, with estimates ranging from $334.90 million to $340.40 million. For the next financial year, analysts forecast that the firm will post sales of $358.90 million per share, with estimates ranging from $345.20 million to $372.60 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Clean Energy Fuels.
Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Thursday, November 2nd. The utilities provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.49). Clean Energy Fuels had a negative net margin of 15.47% and a negative return on equity of 10.52%. The firm had revenue of $81.80 million during the quarter, compared to analyst estimates of $85.43 million. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year.
Separately, ValuEngine downgraded shares of Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th.
Several hedge funds and other institutional investors have recently bought and sold shares of CLNE. Geode Capital Management LLC increased its stake in shares of Clean Energy Fuels by 16.0% during the 1st quarter. Geode Capital Management LLC now owns 839,332 shares of the utilities provider’s stock valued at $2,140,000 after acquiring an additional 115,774 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Clean Energy Fuels by 36.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 394,448 shares of the utilities provider’s stock valued at $1,006,000 after acquiring an additional 104,451 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Clean Energy Fuels by 12.4% during the 1st quarter. Bank of America Corp DE now owns 57,958 shares of the utilities provider’s stock valued at $148,000 after acquiring an additional 6,407 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Clean Energy Fuels by 1.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 74,509 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 835 shares during the last quarter. Finally, Credit Suisse AG increased its stake in shares of Clean Energy Fuels by 15.4% during the 1st quarter. Credit Suisse AG now owns 123,907 shares of the utilities provider’s stock valued at $316,000 after acquiring an additional 16,513 shares during the last quarter. 35.47% of the stock is owned by institutional investors.
Clean Energy Fuels (NASDAQ CLNE) opened at $2.08 on Friday. Clean Energy Fuels has a one year low of $1.96 and a one year high of $3.29. The firm has a market cap of $315.78, a PE ratio of -5.62 and a beta of 1.85. The company has a quick ratio of 3.05, a current ratio of 3.52 and a debt-to-equity ratio of 0.48.
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About Clean Energy Fuels
Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.
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