Westport Fuel Systems Inc (WPRT) Announces Earnings Results, Beats Estimates By $0.03 EPS
Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) announced its earnings results on Tuesday. The auto parts company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.03, Briefing.com reports. Westport Fuel Systems had a negative return on equity of 65.98% and a negative net margin of 20.37%. The company had revenue of $60.80 million for the quarter, compared to analysts’ expectations of $51.91 million. During the same period last year, the firm earned ($0.30) EPS. Westport Fuel Systems’s revenue for the quarter was up 8.4% compared to the same quarter last year.
Westport Fuel Systems (NASDAQ:WPRT) traded down $0.03 during trading hours on Tuesday, reaching $3.08. The company’s stock had a trading volume of 1,048,800 shares, compared to its average volume of 896,111. The company has a current ratio of 1.34, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. Westport Fuel Systems has a twelve month low of $0.82 and a twelve month high of $4.09.
A number of brokerages recently commented on WPRT. Zacks Investment Research raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Thursday, October 12th. Lake Street Capital raised their target price on Westport Fuel Systems from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Thursday, October 5th. ValuEngine cut Westport Fuel Systems from a “hold” rating to a “sell” rating in a report on Friday, September 1st. CIBC started coverage on Westport Fuel Systems in a report on Thursday, August 17th. They set an “outperform” rating and a $3.00 price target on the stock. Finally, BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $3.30.
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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