Zacks: Analysts Anticipate SunPower Corporation (SPWR) to Announce -$0.36 EPS
Wall Street analysts expect SunPower Corporation (NASDAQ:SPWR) to announce earnings per share of ($0.36) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for SunPower Corporation’s earnings. The highest EPS estimate is ($0.23) and the lowest is ($0.43). SunPower Corporation posted earnings per share of $0.68 during the same quarter last year, which would indicate a negative year-over-year growth rate of 152.9%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that SunPower Corporation will report full-year earnings of ($0.99) per share for the current year, with EPS estimates ranging from ($1.39) to ($0.34). For the next financial year, analysts anticipate that the company will report earnings of $0.12 per share, with EPS estimates ranging from ($0.56) to $0.56. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for SunPower Corporation.
SunPower Corporation (NASDAQ:SPWR) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.24. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The business had revenue of $341.50 million for the quarter, compared to analysts’ expectations of $312.58 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The business’s revenue was down 15.0% compared to the same quarter last year.
Several equities research analysts have commented on SPWR shares. Zacks Investment Research upgraded shares of SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 7th. Robert W. Baird restated a “hold” rating and issued a $7.00 price target on shares of SunPower Corporation in a research note on Friday, September 1st. Axiom Securities restated a “buy” rating on shares of SunPower Corporation in a research note on Saturday, July 22nd. Vetr upgraded shares of SunPower Corporation from a “buy” rating to a “strong-buy” rating and set a $12.52 price target on the stock in a research note on Tuesday, July 18th. Finally, Morgan Stanley lowered shares of SunPower Corporation from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $7.22 to $6.00 in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.27.
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Shares of SunPower Corporation (NASDAQ SPWR) opened at 7.18 on Friday. The stock’s 50 day moving average price is $8.34 and its 200-day moving average price is $8.18. SunPower Corporation has a 52-week low of $5.84 and a 52-week high of $11.70. The firm’s market cap is $1.00 billion.
A number of large investors have recently modified their holdings of SPWR. Vanguard Group Inc. boosted its holdings in SunPower Corporation by 13.8% during the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after buying an additional 598,221 shares in the last quarter. Northern Trust Corp boosted its holdings in SunPower Corporation by 141.3% during the second quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after buying an additional 494,979 shares in the last quarter. GAM Holding AG boosted its holdings in SunPower Corporation by 970.8% during the second quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock worth $4,000,000 after buying an additional 388,311 shares in the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in SunPower Corporation during the second quarter worth approximately $2,895,000. Finally, State Street Corp boosted its holdings in SunPower Corporation by 14.0% during the second quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after buying an additional 296,862 shares in the last quarter. Hedge funds and other institutional investors own 28.82% of the company’s stock.
About SunPower Corporation
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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