Equities research analysts predict that SunPower Co. (NASDAQ:SPWR) will report $838.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SunPower’s earnings, with the highest sales estimate coming in at $845.00 million and the lowest estimate coming in at $825.00 million. SunPower reported sales of $1.10 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 23.8%. The business is expected to issue its next earnings results on Wednesday, February 21st.

According to Zacks, analysts expect that SunPower will report full year sales of $838.00 million for the current year, with estimates ranging from $2.13 billion to $2.15 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.52 billion per share, with estimates ranging from $2.31 billion to $2.82 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for SunPower.

SunPower (NASDAQ:SPWR) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.39) by $0.60. The firm had revenue of $477.20 million for the quarter, compared to analyst estimates of $383.76 million. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. SunPower’s revenue for the quarter was down 34.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS.

Several research firms recently commented on SPWR. Zacks Investment Research lowered SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Morgan Stanley lowered SunPower from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $7.22 to $6.00 in a research report on Wednesday, September 27th. Bank of America began coverage on SunPower in a research report on Saturday, December 30th. They set a “neutral” rating on the stock. BidaskClub lowered SunPower from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, ValuEngine lowered SunPower from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.85.

In other SunPower news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total value of $177,240.00. Following the transaction, the director now directly owns 55,924 shares of the company’s stock, valued at approximately $419,430. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Shelton Capital Management raised its position in shares of SunPower by 10.8% in the 3rd quarter. Shelton Capital Management now owns 70,000 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 6,800 shares in the last quarter. California Public Employees Retirement System raised its position in shares of SunPower by 3.8% in the 3rd quarter. California Public Employees Retirement System now owns 859,292 shares of the semiconductor company’s stock valued at $6,264,000 after purchasing an additional 31,392 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of SunPower in the 3rd quarter valued at approximately $244,000. Quentec Asset Management LLC acquired a new position in shares of SunPower in the 3rd quarter valued at approximately $3,208,000. Finally, KBC Group NV raised its position in shares of SunPower by 73.6% in the 3rd quarter. KBC Group NV now owns 64,326 shares of the semiconductor company’s stock valued at $469,000 after purchasing an additional 27,270 shares in the last quarter. 25.39% of the stock is currently owned by institutional investors.

SunPower (NASDAQ:SPWR) traded up $0.08 during trading on Monday, reaching $8.73. The company had a trading volume of 1,550,300 shares, compared to its average volume of 3,040,000. The firm has a market cap of $1,220.00, a price-to-earnings ratio of -2.17 and a beta of 3.16. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. SunPower has a 12-month low of $5.84 and a 12-month high of $11.70.

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SunPower 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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