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 released on Monday, April 15th. Zacks Research analyst L. Shahu now expects that the auto parts company will post earnings per share of ($0.45) for the quarter, up from their previous forecast 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.

Other analysts have also recently issued research reports about the stock. TD Securities cut their price objective on shares of Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating on the stock in a report on Wednesday, March 27th. Royal Bank of Canada cut their price objective on shares of Westport Fuel Systems from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 27th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Westport Fuel Systems in a report on Wednesday, March 27th. Finally, Oppenheimer reissued an “outperform” rating and set a $19.00 price objective on shares of Westport Fuel Systems in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Westport Fuel Systems has a consensus rating of “Hold” and an average target price of $15.10.

Westport Fuel Systems Stock Down 0.2 %

WPRT stock opened at $5.69 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19. Westport Fuel Systems has a twelve month low of $4.90 and a twelve month high of $12.00. The company’s 50 day moving average is $6.10 and its two-hundred day moving average is $6.20. The stock has a market cap of $97.70 million, a P/E ratio of -1.99 and a beta of 2.45.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its 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). Westport Fuel Systems had a negative net margin of 14.97% and a negative return on equity of 26.18%. The firm had revenue of $87.20 million during the quarter, compared to analyst estimates of $82.00 million.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Westport Fuel Systems in the 4th quarter valued at $74,000. Royal Bank of Canada increased its stake in Westport Fuel Systems by 31.1% in the 4th quarter. Royal Bank of Canada now owns 18,787 shares of the auto parts company’s stock valued at $125,000 after buying an additional 4,457 shares during the period. Advisor Group Holdings Inc. increased its stake in Westport Fuel Systems by 70.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock valued at $34,000 after buying an additional 8,800 shares during the period. Cibc World Market Inc. acquired a new position in Westport Fuel Systems in the 1st quarter valued at $51,000. Finally, Captrust Financial Advisors increased its stake in Westport Fuel Systems by 107.6% in the 3rd quarter. Captrust Financial Advisors now owns 34,876 shares of the auto parts company’s stock valued at $30,000 after buying an additional 18,076 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

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.