SunPower Corporation (SPWR) Announces Earnings Results
SunPower Corporation (NASDAQ:SPWR) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.60, Bloomberg Earnings reports. The firm had revenue of $477.20 million for the quarter, compared to analyst estimates of $383.76 million. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The business’s quarterly revenue was down 34.6% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS.
Several research firms have recently issued reports on SPWR. Deutsche Bank AG raised their price target on SunPower Corporation from $6.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Vetr lowered SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price target on the stock. in a research report on Monday, July 31st. BidaskClub lowered SunPower Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Axiom Securities restated a “buy” rating on shares of SunPower Corporation in a research report on Saturday, July 22nd. Finally, Macquarie lowered SunPower Corporation from an “outperform” rating to a “neutral” rating in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $9.29.
SunPower Corporation Company Profile
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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