Zacks: Brokerages Expect EVgo, Inc. (NYSE:EVGO) Will Post Quarterly Sales of $10.75 Million

Wall Street brokerages forecast that EVgo, Inc. (NYSE:EVGO – Get Rating) will report $10.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for EVgo’s earnings, with the lowest sales estimate coming in at $9.50 million and the highest estimate coming in at $12.00 million. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that EVgo will report full-year sales of $50.51 million for the current fiscal year, with estimates ranging from $48.00 million to $54.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $132.54 million, with estimates ranging from $119.93 million to $166.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover EVgo.

EVgo (NYSE:EVGO – Get Rating) last announced its quarterly earnings data on Wednesday, March 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.13. The company had revenue of $7.12 million for the quarter, compared to the consensus estimate of $5.90 million.

Several equities analysts have recently issued reports on the stock. Capital One Financial lowered shares of EVgo from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 3rd. Citigroup decreased their price objective on shares of EVgo from $11.00 to $10.00 in a report on Monday, May 16th. Cantor Fitzgerald started coverage on shares of EVgo in a report on Thursday, April 28th. They issued an “overweight” rating and a $14.00 price objective for the company. Tudor, Pickering, Holt & Co. started coverage on shares of EVgo in a report on Thursday, April 21st. They issued a “buy” rating and a $16.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $20.00 to $14.00 in a report on Friday, January 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Shares of NYSE EVGO traded up $0.31 during trading hours on Monday, hitting $9.78. The company’s stock had a trading volume of 1,633,169 shares, compared to its average volume of 2,916,552. EVgo has a 12 month low of $6.90 and a 12 month high of $19.59. The business has a 50-day simple moving average of $10.58 and a 200-day simple moving average of $10.74.

A number of institutional investors have recently modified their holdings of EVGO. CI Investments Inc. bought a new position in EVgo in the 1st quarter worth $46,425,000. Invesco Ltd. bought a new position in EVgo in the 3rd quarter worth $28,720,000. Vanguard Group Inc. boosted its holdings in EVgo by 121.6% in the 1st quarter. Vanguard Group Inc. now owns 5,882,535 shares of the company’s stock worth $75,649,000 after buying an additional 3,228,340 shares during the period. Allianz Asset Management GmbH bought a new position in EVgo in the 1st quarter worth $32,188,000. Finally, Banque Pictet & Cie SA bought a new position in EVgo in the 4th quarter worth $25,123,000. 9.91% of the stock is owned by institutional investors.

EVgo Company Profile (Get Rating)

EVgo, Inc owns and operates a direct current fast charging network in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.

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