Wall Street brokerages expect SunPower Co. (NASDAQ:SPWR) to announce ($0.11) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for SunPower’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at ($0.26). SunPower reported earnings of ($0.01) per share during the same quarter last year, which would indicate a negative year over year growth rate of 1,000%. The firm is expected to announce its next quarterly earnings report on Monday, July 29th.
According to Zacks, analysts expect that SunPower will report full-year earnings of ($0.41) per share for the current year, with EPS estimates ranging from ($0.90) to $0.53. For the next year, analysts expect that the firm will report earnings of $0.20 per share, with EPS estimates ranging from ($0.40) to $0.91. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover SunPower.
SunPower (NASDAQ:SPWR) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The business had revenue of $348.22 million for the quarter, compared to the consensus estimate of $387.93 million. During the same period in the prior year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis.
SPWR has been the topic of a number of research reports. Credit Suisse Group downgraded SunPower from an “outperform” rating to a “neutral” rating and dropped their price target for the stock 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 objective for the company. in a report on Friday, February 15th. BidaskClub raised SunPower from a “strong sell” rating to a “sell” rating in a report on Thursday, March 21st. ValuEngine raised SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Morgan Stanley set a $6.00 price objective on SunPower and gave the stock a “sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.97.
SPWR stock traded up $0.82 during trading on Friday, reaching $8.20. 7,790,655 shares of the stock were exchanged, compared to its average volume of 1,757,808. SunPower has a twelve month low of $4.55 and a twelve month high of $9.60. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.09 and a current ratio of 1.52. The company has a market cap of $1.09 billion, a P/E ratio of -9.32 and a beta of 2.32.
Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC increased its holdings in 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 in the last quarter. Exane Derivatives grew its holdings in shares of SunPower by 36.3% in the first quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 1,625 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of SunPower by 14.0% in the first quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock valued at $74,000 after acquiring an additional 1,400 shares in the last quarter. ETF Managers Group LLC grew its holdings in shares of SunPower by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 2,226 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of SunPower by 11.7% in the fourth quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 2,214 shares in the last quarter. 26.72% of the stock is owned by hedge funds and other institutional investors.
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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