Equities analysts forecast that Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) will announce sales of $50.48 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Westport Fuel Systems’ earnings. The highest sales estimate is $51.10 million and the lowest is $50.00 million. Westport Fuel Systems reported sales of $76.10 million during the same quarter last year, which suggests a negative year over year growth rate of 33.7%. The company is expected to announce its next earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that Westport Fuel Systems will report full year sales of $50.48 million for the current fiscal year, with estimates ranging from $225.40 million to $231.20 million. For the next fiscal year, analysts forecast that the business will report sales of $252.23 million per share, with estimates ranging from $239.90 million to $272.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Westport Fuel Systems.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last posted its quarterly earnings results on Monday, August 14th. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Westport Fuel Systems had a negative net margin of 20.37% and a negative return on equity of 65.98%. The firm had revenue of $62.10 million for the quarter, compared to analyst estimates of $58.44 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 66.9% compared to the same quarter last year.

A number of equities analysts have issued reports on the stock. Cowen and Company set a $2.00 price objective on shares of Westport Fuel Systems and gave the stock a “hold” rating in a report on Monday, August 14th. Lake Street Capital lifted their price objective on shares of Westport Fuel Systems from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Thursday, October 5th. CIBC assumed coverage on shares of Westport Fuel Systems in a report on Thursday, August 17th. They set an “outperform” rating and a $3.00 price objective on the stock. ValuEngine raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, HC Wainwright set a $5.00 price objective on shares of Westport Fuel Systems and gave the stock a “buy” rating in a report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $3.02.

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Westport Fuel Systems (WPRT) traded down 1.54% during mid-day trading on Wednesday, reaching $3.83. 389,750 shares of the company’s stock traded hands. Westport Fuel Systems has a 12 month low of $0.82 and a 12 month high of $4.09. The stock’s market cap is $494.97 million. The company has a 50 day moving average price of $2.90 and a 200-day moving average price of $1.95.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Westport Fuel Systems by 0.5% during the 2nd quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock worth $169,000 after purchasing an additional 375 shares during the period. Northern Trust Corp raised its stake in shares of Westport Fuel Systems by 0.5% during the 2nd quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after purchasing an additional 346 shares during the period. Paradigm Capital Management Inc. NY bought a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $1,176,000. Royce & Associates LP raised its stake in shares of Westport Fuel Systems by 1.4% during the 2nd quarter. Royce & Associates LP now owns 5,464,983 shares of the auto parts company’s stock worth $12,843,000 after purchasing an additional 73,000 shares during the period. Finally, KCG Holdings Inc. raised its stake in shares of Westport Fuel Systems by 313.2% during the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 96,365 shares during the period. Institutional investors own 9.35% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.

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Earnings History and Estimates for Westport Fuel Systems (NASDAQ:WPRT)

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