SunPower (NASDAQ:SPWR) issued its quarterly earnings data on Thursday. The semiconductor company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05, Morningstar.com reports. SunPower had a negative net margin of 46.65% and a negative return on equity of 2,775.24%. The business had revenue of $348.22 million during the quarter, compared to analysts’ expectations of $387.93 million. During the same period last year, the company posted ($0.20) EPS. The business’s revenue was down 11.1% on a year-over-year basis. SunPower updated its FY 2019 guidance to EPS and its Q2 2019 guidance to EPS.
Shares of SPWR stock traded up $0.82 during trading hours on Friday, reaching $8.20. 7,809,826 shares of the stock were exchanged, compared to its average volume of 1,411,885. SunPower has a 12-month low of $4.55 and a 12-month high of $9.60. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39. The stock has a market cap of $1.04 billion, a PE ratio of -9.32 and a beta of 2.32.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Tuesday, April 16th. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 21st. ValuEngine cut shares of SunPower from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Morgan Stanley set a $6.00 price objective on shares of SunPower and gave the stock a “sell” rating in a research note on Wednesday. Finally, Credit Suisse Group cut shares of SunPower from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $7.00 in a research note on Friday, February 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.97.
Several hedge funds have recently added to or reduced their stakes in SPWR. Quantamental Technologies LLC boosted its stake in shares of SunPower by 55,714.3% during the 1st quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 3,900 shares during the period. Exane Derivatives boosted its stake in shares of SunPower by 36.3% during the 1st quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 1,625 shares during the period. Trust Co. of Vermont boosted its stake in shares of SunPower by 14.0% during the 1st quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 1,400 shares during the period. ETF Managers Group LLC boosted its stake in shares of SunPower by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 2,226 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of SunPower by 11.7% during the 4th quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 2,214 shares during the period. 26.72% of the stock is owned by hedge funds and other institutional investors.
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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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