Wall Street brokerages predict that SunPower Co. (NASDAQ:SPWR) will announce earnings of ($0.32) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for SunPower’s earnings, with the lowest EPS estimate coming in at ($0.49) and the highest estimate coming in at $0.11. SunPower posted earnings per share of ($0.20) during the same quarter last year, which indicates a negative year-over-year growth rate of 60%. The company is expected to report its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that SunPower will report full-year earnings of ($0.37) per share for the current year, with EPS estimates ranging from ($0.90) to $0.53. For the next financial year, analysts anticipate that the firm will post earnings of $0.22 per share, with EPS estimates ranging from ($0.40) to $0.91. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover SunPower.
SunPower (NASDAQ:SPWR) last released its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.13. The firm had revenue of $525.40 million during the quarter, compared to analyst estimates of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The business’s quarterly revenue was down 36.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share.
A number of brokerages recently commented on SPWR. BidaskClub raised SunPower from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 21st. Credit Suisse Group lowered SunPower from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $7.00 in a research note on Friday, February 15th. Bank of America lowered SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target for the company. in a research note on Friday, February 15th. Zacks Investment Research raised SunPower from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Wednesday, January 9th. Finally, Barclays began coverage on SunPower in a research note on Monday, January 7th. They set an “underweight” rating and a $4.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. SunPower presently has a consensus rating of “Hold” and a consensus price target of $7.04.
A number of institutional investors have recently made changes to their positions in SPWR. ETF Managers Group LLC raised its position in SunPower by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 2,226 shares during the period. Legal & General Group Plc raised its position in SunPower by 11.7% during the fourth quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 2,214 shares during the period. Metropolitan Life Insurance Co. NY raised its position in SunPower by 483.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,165 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 20,024 shares during the period. SG Americas Securities LLC raised its position in SunPower by 75.1% during the fourth quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 11,124 shares during the period. Finally, Highland Capital Management LP purchased a new stake in SunPower during the third quarter valued at approximately $146,000. 27.58% of the stock is owned by institutional investors.
SunPower stock traded up $0.40 during midday trading on Wednesday, reaching $7.87. 64,722 shares of the stock traded hands, compared to its average volume of 1,740,398. SunPower has a 12 month low of $4.55 and a 12 month high of $10.00. The firm has a market cap of $1.08 billion, a PE ratio of -8.94 and a beta of 2.30. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39.
SunPower Company Profile
SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
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