$0.16 Earnings Per Share Expected for SunPower Co. (SPWR) This Quarter
Wall Street brokerages predict that SunPower Co. (NASDAQ:SPWR) will post earnings per share (EPS) of $0.16 for the current quarter, according to Zacks. Three analysts have provided estimates for SunPower’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.28. SunPower reported earnings of ($0.64) per share in the same quarter last year, which would indicate a positive year over year growth rate of 125%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 21st.
On average, analysts expect that SunPower will report full-year earnings of ($0.42) per share for the current financial year, with EPS estimates ranging from ($0.92) to ($0.21). For the next year, analysts expect that the business will post earnings of $0.09 per share, with EPS estimates ranging from ($0.48) to $0.44. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for SunPower.
SunPower (NASDAQ:SPWR) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.39) by $0.60. The company had revenue of $477.20 million during the quarter, compared to analyst estimates of $383.76 million. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. The business’s revenue was down 34.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS.
SPWR has been the subject of several research reports. Vetr lowered SunPower from a “strong-buy” rating to a “buy” rating and set a $12.52 target price for the company. in a research report on Monday, July 31st. Bank of America Corporation decreased their target price on SunPower from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 26th. Morgan Stanley lowered SunPower from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $7.22 to $6.00 in a research report on Wednesday, September 27th. Zacks Investment Research lowered SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Robert W. Baird restated a “hold” rating and set a $7.00 price objective on shares of SunPower in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.34.
A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in SunPower by 3.8% during the 3rd quarter. California Public Employees Retirement System now owns 859,292 shares of the semiconductor company’s stock worth $6,264,000 after acquiring an additional 31,392 shares during the period. Cubist Systematic Strategies LLC acquired a new position in SunPower during the 3rd quarter worth $244,000. Quentec Asset Management LLC acquired a new position in SunPower during the 3rd quarter worth $3,208,000. KBC Group NV boosted its position in SunPower by 73.6% during the 3rd quarter. KBC Group NV now owns 64,326 shares of the semiconductor company’s stock worth $469,000 after acquiring an additional 27,270 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in SunPower by 5.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 249,501 shares of the semiconductor company’s stock worth $1,819,000 after acquiring an additional 12,430 shares during the period. Institutional investors own 27.90% of the company’s stock.
Shares of SunPower (NASDAQ:SPWR) traded down $0.16 on Tuesday, hitting $7.96. The stock had a trading volume of 2,937,196 shares, compared to its average volume of 3,115,433. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. SunPower has a one year low of $5.84 and a one year high of $11.70.
SunPower Company Profile
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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