Zacks: Analysts Expect SunPower Co. (NASDAQ:SPWR) to Post $0.08 Earnings Per Share

Analysts expect SunPower Co. (NASDAQ:SPWR) to post earnings per share of $0.08 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for SunPower’s earnings. The highest EPS estimate is $0.15 and the lowest is $0.03. SunPower reported earnings per share of $0.14 during the same quarter last year, which would indicate a negative year over year growth rate of 42.9%. The company is expected to announce its next earnings report on Wednesday, February 16th.

According to Zacks, analysts expect that SunPower will report full-year earnings of $0.25 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.31. For the next fiscal year, analysts anticipate that the company will report earnings of $0.47 per share, with EPS estimates ranging from $0.33 to $0.73. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover SunPower.

SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, November 3rd. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. SunPower had a return on equity of 8.15% and a net margin of 27.71%. The company had revenue of $323.64 million for the quarter, compared to analyst estimates of $325.52 million. During the same quarter last year, the company posted ($0.06) earnings per share.

SPWR has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of SunPower from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $27.00 to $23.00 in a research report on Thursday. Cfra cut shares of SunPower from a “buy” rating to a “sell” rating and set a $26.00 price objective for the company. in a research note on Monday, November 8th. Truist dropped their price objective on shares of SunPower from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, October 6th. Raymond James raised shares of SunPower from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a research note on Tuesday, January 4th. Finally, Truist Securities lowered their target price on shares of SunPower from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, October 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.29.

In other SunPower news, CFO Manavendra Sial sold 12,634 shares of the business’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $32.90, for a total value of $415,658.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.67% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of SunPower in the 2nd quarter worth about $29,000. NN Investment Partners Holdings N.V. bought a new stake in shares of SunPower in the 3rd quarter worth about $61,000. Exchange Traded Concepts LLC bought a new stake in shares of SunPower during the 3rd quarter valued at about $87,000. FORA Capital LLC bought a new stake in shares of SunPower during the 2nd quarter valued at about $114,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of SunPower during the 2nd quarter valued at about $251,000. 32.12% of the stock is owned by institutional investors.

NASDAQ:SPWR traded up $0.05 during mid-day trading on Friday, reaching $20.16. The stock had a trading volume of 191,681 shares, compared to its average volume of 2,963,851. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.28 and a current ratio of 2.89. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 5.19 and a beta of 2.02. SunPower has a twelve month low of $18.55 and a twelve month high of $57.52. The business has a 50 day simple moving average of $24.98 and a 200 day simple moving average of $24.94.

About SunPower

SunPower Corp. engages in the design, manufacture and deliver of solar panels and systems. It operates through the following business segments: Residential, Light Commercial; Commercial & Industrial Solutions; and Other. The Residential, Light Commercial segment refers to the sales of solar energy solutions, including sales to its third-party dealer network and resellers, storage solutions, cash and loan sales, and long-term leases directly to end customers.

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