SunPower Co. (NASDAQ:SPWR) – Oppenheimer Holdings increased their Q3 2017 earnings per share estimates for shares of SunPower in a note issued to investors on Wednesday. Oppenheimer Holdings analyst C. Rusch now anticipates that the semiconductor company will earn ($0.53) per share for the quarter, up from their prior estimate of ($0.56). Oppenheimer Holdings has a “Outperform” rating and a $13.00 price target on the stock. Oppenheimer Holdings also issued estimates for SunPower’s Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($1.41) EPS and FY2018 earnings at ($0.26) EPS.

Several other brokerages also recently issued reports on SPWR. Deutsche Bank AG increased their price objective on shares of SunPower from $6.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Vetr downgraded shares of SunPower from a “strong-buy” rating to a “buy” rating and set a $12.52 price objective for the company. in a research report on Monday, July 31st. BidaskClub downgraded shares of SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Axiom Securities reaffirmed a “buy” rating on shares of SunPower in a research report on Saturday, July 22nd. Finally, Zacks Investment Research downgraded shares of SunPower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.55.

TRADEMARK VIOLATION NOTICE: “SunPower Co. (NASDAQ:SPWR) Forecasted to Earn Q3 2017 Earnings of ($0.53) Per Share” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/08/07/sunpower-co-nasdaqspwr-forecasted-to-earn-q3-2017-earnings-of-0-53-per-share.html.

Shares of SunPower (NASDAQ:SPWR) opened at 9.25 on Monday. The firm’s market cap is $1.29 billion. The company has a 50 day moving average of $9.56 and a 200 day moving average of $7.79. SunPower has a 1-year low of $5.84 and a 1-year high of $15.61.

SunPower (NASDAQ:SPWR) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.24. SunPower had a negative net margin of 35.05% and a negative return on equity of 47.78%. The business had revenue of $341.50 million during the quarter, compared to analyst estimates of $312.58 million. During the same quarter in the previous year, the business earned ($0.22) EPS. SunPower’s quarterly revenue was down 15.0% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the stock. Karp Capital Management Corp purchased a new stake in shares of SunPower during the first quarter worth approximately $838,000. Merriman Wealth Management LLC purchased a new stake in shares of SunPower during the first quarter worth approximately $122,000. California Public Employees Retirement System boosted its stake in shares of SunPower by 2.6% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock worth $4,169,000 after buying an additional 17,200 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of SunPower by 46.1% in the fourth quarter. AQR Capital Management LLC now owns 51,299 shares of the semiconductor company’s stock worth $339,000 after buying an additional 16,183 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of SunPower by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,822 shares of the semiconductor company’s stock worth $442,000 after buying an additional 2,130 shares in the last quarter. Hedge funds and other institutional investors own 25.60% of the company’s stock.

About SunPower

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.

Receive News & Ratings for SunPower Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower Co. and related companies with MarketBeat.com's FREE daily email newsletter.