AquaVenture Holdings Ltd (WAAS) Expected to Post Quarterly Sales of $42.83 Million

Brokerages expect that AquaVenture Holdings Ltd (NYSE:WAAS) will announce $42.83 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for AquaVenture’s earnings. The lowest sales estimate is $42.00 million and the highest is $43.66 million. AquaVenture reported sales of $32.51 million during the same quarter last year, which would suggest a positive year over year growth rate of 31.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that AquaVenture will report full year sales of $195.68 million for the current year. For the next year, analysts anticipate that the firm will report sales of $207.94 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover AquaVenture.

AquaVenture (NYSE:WAAS) last released its quarterly earnings results on Wednesday, February 27th. The company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.05). The business had revenue of $41.80 million for the quarter, compared to analyst estimates of $38.72 million. AquaVenture had a negative return on equity of 6.14% and a negative net margin of 14.31%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.25) EPS.

Several research firms recently issued reports on WAAS. Zacks Investment Research raised AquaVenture from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday. ValuEngine upgraded shares of AquaVenture from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. Citigroup set a $26.00 price objective on shares of AquaVenture and gave the company a “buy” rating in a research note on Thursday, February 28th. Lake Street Capital increased their price objective on shares of AquaVenture to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 19th. Finally, B. Riley increased their price objective on shares of AquaVenture from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 19th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $25.75.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of AquaVenture by 62.7% during the 4th quarter. Bank of America Corp DE now owns 8,698 shares of the company’s stock valued at $165,000 after purchasing an additional 3,351 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of AquaVenture by 42.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,000 shares of the company’s stock valued at $170,000 after purchasing an additional 2,700 shares in the last quarter. Ibex Investors LLC bought a new stake in shares of AquaVenture during the 4th quarter valued at about $218,000. Teton Advisors Inc. boosted its position in shares of AquaVenture by 16.0% during the 4th quarter. Teton Advisors Inc. now owns 14,500 shares of the company’s stock valued at $274,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of AquaVenture by 44.1% during the 4th quarter. Rhumbline Advisers now owns 15,431 shares of the company’s stock valued at $291,000 after purchasing an additional 4,719 shares in the last quarter. 34.04% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE WAAS traded up $0.45 during trading hours on Wednesday, hitting $19.35. The company’s stock had a trading volume of 50,928 shares, compared to its average volume of 70,588. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.48 and a quick ratio of 2.12. AquaVenture has a 12 month low of $11.83 and a 12 month high of $23.35.

About AquaVenture

AquaVenture Holdings Ltd. engages in the provision of water purification services. It operates through Seven Seas Water and Quench segments. The Seven Seas Water segment delivers treated bulk water to governmental, municipal, industrial, and hospitality customers. The Quench segment focuses in the rental and servicing of POU water filtration systems and related equipment, such as ice and sparkling water machines, and from the contracted maintenance of customer-owned equipment.

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