SunPower (SPWR) Set to Announce Earnings on Tuesday

SunPower (NASDAQ:SPWRGet Rating) will be releasing its earnings data before the market opens on Tuesday, August 2nd. Analysts expect SunPower to post earnings of $0.06 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

SunPower (NASDAQ:SPWRGet Rating) last released its earnings results on Thursday, May 5th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $350.28 million during the quarter, compared to analyst estimates of $317.56 million. SunPower had a negative net margin of 1.23% and a negative return on equity of 3.50%. SunPower’s revenue was up 45.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. On average, analysts expect SunPower to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SunPower Stock Performance

NASDAQ:SPWR opened at $16.60 on Tuesday. The stock’s 50-day simple moving average is $17.02 and its 200 day simple moving average is $17.94. The company has a market cap of $2.89 billion, a P/E ratio of -110.66 and a beta of 2.02. SunPower has a 52-week low of $12.78 and a 52-week high of $34.61.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group downgraded SunPower from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $19.00 to $13.00 in a research report on Monday, June 20th. Robert W. Baird boosted their price target on SunPower from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, April 1st. Cowen boosted their price target on SunPower from $18.00 to $20.00 in a research report on Friday, April 1st. Roth Capital lowered their price target on SunPower from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company assumed coverage on SunPower in a research report on Wednesday, June 29th. They set an “underweight” rating and a $17.00 price target on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.71.

Institutional Investors Weigh In On SunPower

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in shares of SunPower by 205.7% in the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 2,763 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of SunPower by 66.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock valued at $96,000 after buying an additional 1,792 shares during the period. Cetera Advisor Networks LLC bought a new stake in shares of SunPower in the first quarter valued at approximately $209,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of SunPower by 13.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,200 shares of the semiconductor company’s stock valued at $262,000 after buying an additional 1,479 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its stake in shares of SunPower by 8.4% in the first quarter. Beacon Pointe Advisors LLC now owns 16,432 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 1,274 shares during the period. 36.61% of the stock is currently owned by institutional investors.

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.

See Also

Earnings History for SunPower (NASDAQ:SPWR)

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