Westport Fuel Systems Inc. (NASDAQ:WPRT) Expected to Post Quarterly Sales of $77.46 Million

Analysts predict that Westport Fuel Systems Inc. (NASDAQ:WPRTGet Rating) (TSE:WPRT) will post $77.46 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Westport Fuel Systems’ earnings. The highest sales estimate is $80.72 million and the lowest is $72.70 million. Westport Fuel Systems posted sales of $84.70 million in the same quarter last year, which suggests a negative year-over-year growth rate of 8.5%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Westport Fuel Systems will report full-year sales of $317.62 million for the current year, with estimates ranging from $301.80 million to $327.70 million. For the next financial year, analysts expect that the company will post sales of $382.93 million, with estimates ranging from $369.04 million to $407.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Westport Fuel Systems.

Westport Fuel Systems (NASDAQ:WPRTGet Rating) (TSE:WPRT) last issued its quarterly earnings results on Friday, May 6th. The auto parts company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Westport Fuel Systems had a return on equity of 1.42% and a net margin of 7.69%. The business had revenue of $76.54 million for the quarter, compared to analyst estimates of $72.62 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year.

A number of research analysts have issued reports on WPRT shares. HC Wainwright decreased their target price on Westport Fuel Systems from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th. StockNews.com started coverage on Westport Fuel Systems in a research note on Thursday, March 31st. They set a “sell” rating on the stock.

Large investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in Westport Fuel Systems during the 3rd quarter valued at approximately $45,000. Renaissance Technologies LLC raised its stake in shares of Westport Fuel Systems by 90.0% during the third quarter. Renaissance Technologies LLC now owns 868,900 shares of the auto parts company’s stock valued at $2,858,000 after acquiring an additional 411,600 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Westport Fuel Systems in the 4th quarter valued at about $52,000. Itau Unibanco Holding S.A. raised its holdings in Westport Fuel Systems by 163.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 58,707 shares of the auto parts company’s stock worth $138,000 after purchasing an additional 36,392 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Westport Fuel Systems by 21.8% in the third quarter. Two Sigma Investments LP now owns 2,524,376 shares of the auto parts company’s stock worth $8,305,000 after purchasing an additional 451,858 shares during the last quarter. 24.86% of the stock is currently owned by hedge funds and other institutional investors.

WPRT opened at $1.27 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.73 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $1.33 and a two-hundred day moving average price of $1.78. Westport Fuel Systems has a 1-year low of $0.95 and a 1-year high of $6.42. The stock has a market capitalization of $217.40 million, a PE ratio of 8.43 and a beta of 2.41.

About Westport Fuel Systems (Get Rating)

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications worldwide. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments. It offers alternative fuel systems and components, which include a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, light and heavy-duty original equipment manufacturers (OEMs) and delayed OEMs, electronics, hydrogen, and fuel storage activities.

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