Q2 2024 Earnings Forecast for Westport Fuel Systems Inc. Issued By Zacks Research (NASDAQ:WPRT)

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Research analysts at Zacks Research raised their Q2 2024 EPS estimates for Westport Fuel Systems in a report issued on Monday, April 15th. Zacks Research analyst L. Shahu now forecasts that the auto parts company will post earnings of ($0.45) per share for the quarter, up from their previous estimate of ($0.46). The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($1.73) per share. Zacks Research also issued estimates for Westport Fuel Systems’ Q3 2024 earnings at ($0.46) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.88) EPS, Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.28) EPS, FY2025 earnings at ($1.09) EPS and FY2026 earnings at ($0.04) EPS.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings results on Monday, March 25th. The auto parts company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The business had revenue of $87.20 million during the quarter, compared to the consensus estimate of $82.00 million. Westport Fuel Systems had a negative return on equity of 26.18% and a negative net margin of 14.97%.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Westport Fuel Systems from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 27th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Westport Fuel Systems in a research note on Wednesday, March 27th. Oppenheimer reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Westport Fuel Systems in a research note on Wednesday, March 27th. Finally, TD Securities lowered their price objective on shares of Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.10.

Westport Fuel Systems Stock Performance

Westport Fuel Systems stock opened at $5.69 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $97.70 million, a PE ratio of -1.99 and a beta of 2.45. The firm has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $6.20. Westport Fuel Systems has a twelve month low of $4.90 and a twelve month high of $12.00.

Hedge Funds Weigh In On Westport Fuel Systems

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Westport Fuel Systems in the fourth quarter worth about $74,000. Royal Bank of Canada grew its holdings in Westport Fuel Systems by 31.1% in the fourth quarter. Royal Bank of Canada now owns 18,787 shares of the auto parts company’s stock worth $125,000 after purchasing an additional 4,457 shares during the period. AMH Equity Ltd grew its holdings in Westport Fuel Systems by 52.9% in the fourth quarter. AMH Equity Ltd now owns 250,000 shares of the auto parts company’s stock worth $1,655,000 after purchasing an additional 86,460 shares during the period. Grace & White Inc. NY grew its holdings in Westport Fuel Systems by 31.4% in the fourth quarter. Grace & White Inc. NY now owns 525,451 shares of the auto parts company’s stock worth $3,478,000 after purchasing an additional 125,575 shares during the period. Finally, Trellus Management Company LLC grew its holdings in Westport Fuel Systems by 32.1% in the third quarter. Trellus Management Company LLC now owns 83,238 shares of the auto parts company’s stock worth $504,000 after purchasing an additional 20,238 shares during the period. 21.30% of the stock is owned by institutional investors.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.