SOLV Energy Inc. (NASDAQ:MWH) Stock Has Consensus Price Target of $39.91 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Thirteen analysts have a consensus “Moderate Buy” rating on SOLV Energy, with an average 12-month price target of $39.91 versus the stock’s $25.05 opening price.
• Recent results exceeded expectations: SOLV Energy reported quarterly EPS of $0.30, topping the $0.26 consensus estimate, while revenue rose 77.4% year over year to $951.24 million.
• Shares remain under pressure: The stock was down 1.6% and trading well below its 52-week high of $48.40; its 50-day and 200-day moving averages were $27.46 and $31.57, respectively.

Shares of SOLV Energy Inc. (NASDAQ:MWH - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $39.91.

MWH has been the subject of several research reports. Weiss Ratings upgraded SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. Zacks Research cut SOLV Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $42.00 price target on shares of SOLV Energy in a research report on Friday, August 14th. Robert W. Baird reduced their price objective on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, August 14th. Finally, TD Cowen upped their target price on shares of SOLV Energy from $32.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, August 25th.

Institutional Trading of SOLV Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of SOLV Energy during the second quarter worth $1,675,000. Maven Securities LTD acquired a new position in SOLV Energy in the second quarter valued at $535,000. Squarepoint Ops LLC purchased a new position in SOLV Energy during the second quarter worth about $4,037,000. Arizona State Retirement System acquired a new stake in SOLV Energy in the 2nd quarter worth about $222,000. Finally, American Securities LLC acquired a new stake in SOLV Energy in the 2nd quarter worth about $2,823,440,000.

SOLV Energy Trading Down 1.6%

Shares of MWH stock opened at $25.05 on Friday. The stock has a market cap of $5.07 billion and a P/E ratio of 83.50. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. SOLV Energy has a fifty-two week low of $23.83 and a fifty-two week high of $48.40. The business has a fifty day simple moving average of $27.46 and a 200-day simple moving average of $31.57.

SOLV Energy (NASDAQ:MWH - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The business's revenue was up 77.4% compared to the same quarter last year. On average, analysts forecast that SOLV Energy will post 1.28 earnings per share for the current fiscal year.

SOLV Energy Company Profile

SOLV Energy is a renewable-energy services company that specializes in the development, engineering, procurement and construction of utility-scale solar power projects. The company also provides operations and maintenance services intended to support the long-term performance, reliability and efficiency of solar facilities.

In addition to solar photovoltaic installations, SOLV Energy works on battery energy-storage projects and related electrical infrastructure. Its services span project planning and design, equipment procurement, construction management, commissioning, and ongoing technical and field support for renewable-energy assets.

The company was formerly known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.