SunPower Co. (NASDAQ:SPWR) Expected to Post Earnings of $0.06 Per Share

Analysts forecast that SunPower Co. (NASDAQ:SPWRGet Rating) will announce earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for SunPower’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.00. SunPower also posted earnings of $0.06 per share in the same quarter last year. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that SunPower will report full-year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.66. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.41 to $1.05. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow SunPower.

SunPower (NASDAQ:SPWRGet Rating) last issued its earnings results on Thursday, May 5th. The semiconductor company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. SunPower had a negative net margin of 1.23% and a negative return on equity of 3.41%. The firm had revenue of $350.28 million for the quarter, compared to analyst estimates of $317.56 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 45.9% on a year-over-year basis.

A number of brokerages have recently issued reports on SPWR. Raymond James raised their price target on shares of SunPower from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, April 5th. The Goldman Sachs Group increased their price target on shares of SunPower from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Bank of America upgraded SunPower from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $13.00 to $23.00 in a report on Monday, April 4th. Zacks Investment Research upgraded SunPower from a “strong sell” rating to a “hold” rating and set a $25.00 target price for the company in a report on Wednesday, April 6th. Finally, Robert W. Baird boosted their target price on SunPower from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, April 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.62.

Several large investors have recently added to or reduced their stakes in SPWR. Arizona State Retirement System boosted its holdings in SunPower by 1.4% in the third quarter. Arizona State Retirement System now owns 23,497 shares of the semiconductor company’s stock valued at $533,000 after purchasing an additional 316 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of SunPower by 20.7% in the first quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 796 shares during the period. Guinness Atkinson Asset Management Inc grew its position in SunPower by 26.5% in the fourth quarter. Guinness Atkinson Asset Management Inc now owns 4,300 shares of the semiconductor company’s stock worth $90,000 after buying an additional 900 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of SunPower by 4.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 21,900 shares of the semiconductor company’s stock valued at $470,000 after buying an additional 900 shares during the period. Finally, ETF Managers Group LLC lifted its position in SunPower by 5.0% during the 4th quarter. ETF Managers Group LLC now owns 20,428 shares of the semiconductor company’s stock worth $429,000 after acquiring an additional 972 shares during the last quarter. Institutional investors and hedge funds own 36.61% of the company’s stock.

SunPower stock opened at $13.73 on Thursday. SunPower has a 1-year low of $13.70 and a 1-year high of $34.61. The firm has a market capitalization of $2.38 billion, a PE ratio of -91.49 and a beta of 2.05. The firm’s 50 day simple moving average is $19.71 and its 200 day simple moving average is $21.60. The company has a current ratio of 2.11, a quick ratio of 1.63 and a debt-to-equity ratio of 1.09.

About SunPower (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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