Q1 2017 Earnings Forecast for Westport Innovations Inc. Issued By Craig Hallum (WPRT)
Westport Innovations Inc. (NASDAQ:WPRT) – Analysts at Craig Hallum upped their Q1 2017 EPS estimates for Westport Innovations in a research report issued to clients and investors on Thursday. Craig Hallum analyst E. Stine now anticipates that the firm will post earnings per share of ($0.13) for the quarter, up from their prior forecast of ($0.20). Craig Hallum also issued estimates for Westport Innovations’ Q2 2017 earnings at ($0.10) EPS, Q3 2017 earnings at ($0.12) EPS, Q4 2017 earnings at ($0.04) EPS and FY2017 earnings at ($0.39) EPS.
Westport Innovations (NASDAQ:WPRT) last released its earnings results on Wednesday, November 9th. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $76.10 million for the quarter, compared to analyst estimates of $82.44 million. Westport Innovations had a negative return on equity of 101.18% and a negative net margin of 44.93%. The firm’s revenue was up 241.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS.
Separately, Zacks Investment Research upgraded shares of Westport Innovations from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a report on Wednesday, August 3rd.
Westport Innovations (NASDAQ:WPRT) opened at 1.34 on Monday. The firm’s market cap is $147.22 million. Westport Innovations has a 52-week low of $1.17 and a 52-week high of $3.09. The firm’s 50-day moving average is $1.56 and its 200-day moving average is $1.68.
Several large investors have recently modified their holdings of WPRT. California Public Employees Retirement System bought a new stake in shares of Westport Innovations during the second quarter valued at about $245,000. Royce & Associates LP increased its stake in shares of Westport Innovations by 351.7% in the second quarter. Royce & Associates LP now owns 4,508,350 shares of the company’s stock valued at $7,529,000 after buying an additional 3,510,254 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Westport Innovations during the second quarter valued at about $3,523,000. Vanguard Group Inc. bought a new stake in shares of Westport Innovations during the second quarter valued at about $2,137,000. Finally, US Bancorp DE bought a new stake in shares of Westport Innovations during the second quarter valued at about $263,000. 17.01% of the stock is owned by institutional investors.
About Westport Innovations
Westport Fuel Systems Inc (Westport), formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.
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