DA Davidson Comments on Infrastructure and Energy Alternatives’ Q2 2019 Earnings (IEA)

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Infrastructure and Energy Alternatives (NYSE:IEA) – Stock analysts at DA Davidson boosted their Q2 2019 earnings per share (EPS) estimates for Infrastructure and Energy Alternatives in a research report issued to clients and investors on Monday, May 13th. DA Davidson analyst B. Thielman now forecasts that the company will earn $0.25 per share for the quarter, up from their prior forecast of $0.21. DA Davidson currently has a “Neutral” rating and a $7.00 price target on the stock. DA Davidson also issued estimates for Infrastructure and Energy Alternatives’ FY2020 earnings at $1.00 EPS.

Infrastructure and Energy Alternatives (NYSE:IEA) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.94) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.67). The firm had revenue of $190.81 million during the quarter, compared to analysts’ expectations of $144.30 million.

Separately, Zacks Investment Research lowered Infrastructure and Energy Alternatives from a “hold” rating to a “sell” rating in a report on Thursday, February 21st.

Shares of IEA opened at $4.41 on Wednesday. Infrastructure and Energy Alternatives has a twelve month low of $4.22 and a twelve month high of $11.27.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Infrastructure and Energy Alternatives by 36.6% during the third quarter. Vanguard Group Inc now owns 499,605 shares of the company’s stock worth $5,245,000 after purchasing an additional 133,763 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Infrastructure and Energy Alternatives by 36.6% during the third quarter. Vanguard Group Inc. now owns 499,605 shares of the company’s stock worth $5,245,000 after purchasing an additional 133,763 shares in the last quarter. Perritt Capital Management Inc. grew its holdings in shares of Infrastructure and Energy Alternatives by 44.1% during the fourth quarter. Perritt Capital Management Inc. now owns 307,839 shares of the company’s stock worth $2,521,000 after purchasing an additional 94,139 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Infrastructure and Energy Alternatives by 15.9% during the fourth quarter. Royce & Associates LP now owns 875,100 shares of the company’s stock worth $7,167,000 after purchasing an additional 120,100 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Infrastructure and Energy Alternatives by 131.0% during the third quarter. Renaissance Technologies LLC now owns 238,423 shares of the company’s stock worth $2,503,000 after purchasing an additional 135,200 shares in the last quarter.

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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