Brokers Offer Predictions for Revolution Lighting Technologies Inc.’s FY2016 Earnings (RVLT)
Revolution Lighting Technologies Inc. (NASDAQ:RVLT) – Research analysts at Roth Capital lowered their FY2016 earnings per share estimates for Revolution Lighting Technologies in a research note issued to investors on Thursday. Roth Capital analyst C. Irwin now expects that the firm will post earnings per share of ($0.01) for the year, down from their previous estimate of $0.15. Roth Capital has a “Buy” rating and a $19.00 price objective on the stock. Roth Capital also issued estimates for Revolution Lighting Technologies’ Q4 2016 earnings at $0.09 EPS.
Shares of Revolution Lighting Technologies (NASDAQ:RVLT) opened at 5.88 on Monday. Revolution Lighting Technologies has a 52-week low of $5.16 and a 52-week high of $9.90. The stock’s market capitalization is $122.57 million. The stock has a 50 day moving average price of $6.77 and a 200-day moving average price of $6.48.
Revolution Lighting Technologies (NASDAQ:RVLT) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The business earned $50.20 million during the quarter, compared to analysts’ expectations of $51.75 million. Revolution Lighting Technologies had a positive return on equity of 2.17% and a negative net margin of 0.39%. Revolution Lighting Technologies’s revenue for the quarter was up 33.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC increased its position in Revolution Lighting Technologies by 16.7% in the second quarter. Ancora Advisors LLC now owns 35,000 shares of the company’s stock worth $216,000 after buying an additional 5,000 shares in the last quarter. Connors Investor Services Inc. increased its position in Revolution Lighting Technologies by 36.5% in the second quarter. Connors Investor Services Inc. now owns 26,154 shares of the company’s stock worth $162,000 after buying an additional 7,000 shares in the last quarter. BlackRock Fund Advisors increased its position in Revolution Lighting Technologies by 130.3% in the second quarter. BlackRock Fund Advisors now owns 21,630 shares of the company’s stock worth $134,000 after buying an additional 12,236 shares in the last quarter. Wells Fargo & Company MN increased its position in Revolution Lighting Technologies by 185.6% in the third quarter. Wells Fargo & Company MN now owns 39,455 shares of the company’s stock worth $249,000 after buying an additional 25,638 shares in the last quarter. Finally, KCG Holdings Inc. purchased a new position in Revolution Lighting Technologies during the third quarter worth about $183,000. Institutional investors and hedge funds own 20.11% of the company’s stock.
About Revolution Lighting Technologies
Revolution Lighting Technologies, Inc designs, manufactures, markets and sells commercial grade light-emitting diode (LED) and conventional lighting fixtures. The Company operates in Lighting Products and Solutions (principally LED fixtures and lamps) segment. The Company’s products are used for outdoor and indoor applications, LED-based signage, channel-letter and contour lighting products, LED replacement lamps and commercial grade smart grid control systems.
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