-$0.33 EPS Expected for SunPower Co. (SPWR) This Quarter

Wall Street analysts expect SunPower Co. (NASDAQ:SPWR) to announce earnings per share (EPS) of ($0.33) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for SunPower’s earnings, with estimates ranging from ($0.49) to $0.11. SunPower posted earnings of ($0.20) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 65%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 14th.

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 fiscal year, analysts expect that the company will post earnings of $0.20 per share, with EPS estimates ranging from ($0.40) to $0.91. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for SunPower.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.13. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The company had revenue of $525.40 million during the quarter, compared to analyst estimates of $566.06 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was down 36.2% on a year-over-year basis.

Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded 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. BidaskClub upgraded SunPower from a “strong sell” rating to a “sell” rating in a report on Thursday, March 21st. Credit Suisse Group cut SunPower from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $7.00 in a report on Friday, February 15th. ValuEngine upgraded SunPower from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, Bank of America cut SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target on the stock. in a report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.11.

Several institutional investors have recently made changes to their positions in SPWR. Legal & General Group Plc lifted its position in 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 acquiring an additional 2,214 shares during the last quarter. ETF Managers Group LLC raised its stake in SunPower by 15.8% in 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 in the last quarter. Northern Trust Corp raised its stake in SunPower by 0.4% in the 4th quarter. Northern Trust Corp now owns 760,039 shares of the semiconductor company’s stock worth $3,778,000 after purchasing an additional 3,007 shares in the last quarter. Alps Advisors Inc. raised its stake in SunPower by 21.7% in the 4th quarter. Alps Advisors Inc. now owns 31,732 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 5,652 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in SunPower by 19.9% in the 4th 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 in the last quarter. 27.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SPWR traded down $0.07 during trading on Wednesday, hitting $7.51. The stock had a trading volume of 955,162 shares, compared to its average volume of 1,708,699. SunPower has a 12-month low of $4.55 and a 12-month high of $10.00. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -8.52 and a beta of 2.30. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 39.39.

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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