Wall Street analysts forecast that SunPower Co. (NASDAQ:SPWR) will announce $838.00 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for SunPower’s earnings, with the lowest sales estimate coming in at $825.00 million and the highest estimate coming in at $845.00 million. SunPower reported sales of $1.10 billion during the same quarter last year, which would suggest a negative year over year growth rate of 23.8%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that SunPower will report full-year sales of $838.00 million for the current financial year, with estimates ranging from $2.13 billion to $2.15 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.52 billion per share, with estimates ranging from $2.31 billion to $2.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SunPower.
SunPower (NASDAQ:SPWR) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. The business had revenue of $477.20 million for the quarter, compared to the consensus estimate of $383.76 million. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The business’s quarterly revenue was down 34.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share.
A number of research firms recently commented on SPWR. Robert W. Baird raised shares of SunPower from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $7.00 to $10.00 in a report on Monday, December 11th. Cowen reissued a “buy” rating and set a $12.00 price objective on shares of SunPower in a report on Sunday, September 17th. BidaskClub raised shares of SunPower from a “hold” rating to a “buy” rating in a report on Tuesday. ValuEngine downgraded shares of SunPower from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Finally, Bank of America decreased their price objective on shares of SunPower from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. SunPower presently has an average rating of “Hold” and an average target price of $9.85.
Shares of SunPower (NASDAQ:SPWR) opened at $9.07 on Friday. SunPower has a fifty-two week low of $5.84 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02.
In other SunPower news, Director Catherine A. Lesjak sold 23,632 shares of SunPower stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total transaction of $177,240.00. Following the completion of the transaction, the director now owns 55,924 shares in the company, valued at $419,430. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SPWR. Vanguard Group Inc. raised its position in shares of SunPower by 13.8% in the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock valued at $45,977,000 after buying an additional 598,221 shares during the last quarter. Northern Trust Corp raised its position in shares of SunPower by 141.3% in the second quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock valued at $7,894,000 after buying an additional 494,979 shares during the last quarter. Quentec Asset Management LLC acquired a new position in shares of SunPower in the third quarter valued at approximately $3,208,000. GAM Holding AG raised its position in shares of SunPower by 970.8% in the second quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock valued at $4,000,000 after buying an additional 388,311 shares during the last quarter. Finally, Impax Asset Management LTD raised its position in shares of SunPower by 13.6% in the third quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock valued at $22,438,000 after buying an additional 367,582 shares during the last quarter. Institutional investors own 25.39% of the company’s stock.
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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