Zacks: Analysts Expect SunPower Co. (NASDAQ:SPWR) Will Post Quarterly Sales of $333.80 Million

Brokerages expect that SunPower Co. (NASDAQ:SPWR – Get Rating) will report sales of $333.80 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for SunPower’s earnings, with the lowest sales estimate coming in at $288.80 million and the highest estimate coming in at $414.70 million. SunPower posted sales of $305.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.2%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that SunPower will report full-year sales of $1.53 billion for the current fiscal year, with estimates ranging from $1.38 billion to $1.80 billion. For the next year, analysts forecast that the firm will post sales of $1.83 billion, with estimates ranging from $1.63 billion to $2.16 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow SunPower.

SunPower (NASDAQ:SPWR – Get Rating) last announced its quarterly earnings data on Wednesday, February 16th. The semiconductor company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). The company had revenue of $384.53 million for the quarter, compared to analysts’ expectations of $369.77 million. SunPower had a negative net margin of 2.82% and a negative return on equity of 1.80%. SunPower’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share.

SPWR has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of SunPower in a research report on Thursday, March 31st. They issued a “sell” rating for the company. JPMorgan Chase & Co. upped their price target on shares of SunPower from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Monday, April 4th. Bank of America upgraded shares of SunPower from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $13.00 to $23.00 in a research report on Monday, April 4th. Cowen upped their price objective on shares of SunPower from $18.00 to $20.00 in a research note on Friday, April 1st. Finally, The Goldman Sachs Group increased their price target on shares of SunPower from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, April 4th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, SunPower presently has a consensus rating of “Hold” and a consensus price target of $22.53.

NASDAQ SPWR opened at $17.91 on Friday. The company has a market capitalization of $3.10 billion, a PE ratio of -66.33 and a beta of 1.99. The company has a fifty day moving average of $19.60 and a 200 day moving average of $22.48. SunPower has a 1 year low of $14.00 and a 1 year high of $34.61. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.11 and a quick ratio of 1.63.

A number of institutional investors and hedge funds have recently modified their holdings of SPWR. Vontobel Holding Ltd. increased its holdings in shares of SunPower by 40.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 10,868 shares of the semiconductor company’s stock worth $246,000 after buying an additional 3,141 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in SunPower by 106.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,067 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 1,067 shares during the period. SG Americas Securities LLC boosted its position in SunPower by 59.8% during the 3rd quarter. SG Americas Securities LLC now owns 48,404 shares of the semiconductor company’s stock worth $1,098,000 after purchasing an additional 18,116 shares during the period. AE Wealth Management LLC boosted its position in SunPower by 76.1% during the 3rd quarter. AE Wealth Management LLC now owns 37,808 shares of the semiconductor company’s stock worth $857,000 after purchasing an additional 16,342 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in SunPower by 8.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 27,191 shares of the semiconductor company’s stock worth $617,000 after purchasing an additional 2,054 shares during the period. Institutional investors own 34.82% of the company’s stock.

SunPower Company Profile (Get Rating)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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