Analysts Anticipate SunPower Co. (SPWR) Will Post Earnings of -$0.40 Per Share

Wall Street analysts expect SunPower Co. (NASDAQ:SPWR) to announce ($0.40) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for SunPower’s earnings, with estimates ranging from ($0.49) to ($0.31). SunPower reported earnings per share of ($0.20) in the same quarter last year, which would suggest a negative year-over-year growth rate of 100%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, May 9th.

On average, analysts expect that SunPower will report full year earnings of ($0.57) per share for the current year, with EPS estimates ranging from ($0.90) to ($0.22). For the next fiscal year, analysts anticipate that the firm will report earnings of $0.06 per share, with EPS estimates ranging from ($0.40) to $0.35. Zacks Investment Research’s 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 earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.13. The business had revenue of $525.40 million for the quarter, compared to the consensus estimate of $566.06 million. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The company’s revenue for the quarter was down 36.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS.

A number of analysts recently commented on the stock. BidaskClub upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. ValuEngine cut shares of SunPower from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Credit Suisse Group cut shares of SunPower from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $7.00 in a research note on Friday, February 15th. Zacks Investment Research upgraded shares of SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of SunPower in a research note on Thursday, April 11th. They issued a “neutral” rating and a $7.50 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.11.

Several hedge funds have recently added to or reduced their stakes in SPWR. MetLife Investment Advisors LLC boosted its holdings in shares of SunPower by 55.4% in the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 17,431 shares during the period. Vanguard Group Inc. lifted its holdings in shares of SunPower by 10.2% during the third quarter. Vanguard Group Inc. now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the period. Vanguard Group Inc lifted its holdings in shares of SunPower by 10.2% during the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of SunPower by 19.9% during the fourth quarter. North Star Investment Management Corp. now owns 36,200 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 6,000 shares during the period. Finally, KBC Group NV lifted its holdings in shares of SunPower by 3.9% during the fourth quarter. KBC Group NV now owns 273,271 shares of the semiconductor company’s stock worth $1,358,000 after purchasing an additional 10,169 shares during the period. Hedge funds and other institutional investors own 26.72% of the company’s stock.

Shares of NASDAQ:SPWR traded down $0.14 during trading on Friday, reaching $7.64. The stock had a trading volume of 51,745 shares, compared to its average volume of 1,677,507. SunPower has a one year low of $4.55 and a one year high of $9.60. The stock has a market capitalization of $1.09 billion, a P/E ratio of -8.66 and a beta of 2.32. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.09 and a current ratio of 1.52.

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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