Zacks: Analysts Expect SunPower Co. (NASDAQ:SPWR) Will Post Earnings of -$0.07 Per Share

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Equities research analysts expect that SunPower Co. (NASDAQ:SPWR) will report ($0.07) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for SunPower’s earnings, with estimates ranging from ($0.31) to $0.24. SunPower reported earnings per share of ($0.01) during the same quarter last year, which suggests a negative year over year growth rate of 600%. The firm is scheduled to issue its next quarterly earnings results on Monday, July 29th.

According to Zacks, analysts expect that SunPower will report full year earnings of ($0.37) per share for the current year, with EPS estimates ranging from ($0.88) to ($0.07). For the next year, analysts anticipate that the firm will report earnings of $0.14 per share, with EPS estimates ranging from ($0.40) to $0.71. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for SunPower.

SunPower (NASDAQ:SPWR) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.65%. The company had revenue of $348.22 million for the quarter, compared to analysts’ expectations of $387.93 million. During the same period last year, the firm posted ($0.20) earnings per share. SunPower’s revenue was down 11.1% compared to the same quarter last year.

Several equities research analysts recently commented on the company. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Raymond James set a C$2.25 price objective on Integra Resources and gave the company an “outperform” rating in a research report on Wednesday, June 19th. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. set a €53.00 ($61.63) target price on Kion Group and gave the company a “neutral” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.62.

In other news, EVP Kenneth Lawrence Mahaffey sold 32,248 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $7.98, for a total value of $257,339.04. Following the transaction, the executive vice president now owns 67,796 shares of the company’s stock, valued at $541,012.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Manavendra Sial sold 8,177 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $8.06, for a total value of $65,906.62. Following the completion of the transaction, the chief financial officer now directly owns 8,178 shares in the company, valued at approximately $65,914.68. The disclosure for this sale can be found here. In the last three months, insiders sold 74,034 shares of company stock worth $588,421. 1.04% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantamental Technologies LLC raised its stake in shares of SunPower by 55,714.3% in the first quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock worth $25,000 after buying an additional 3,900 shares during the period. Exane Derivatives raised its stake in shares of SunPower by 36.3% in the first quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock worth $40,000 after buying an additional 1,625 shares during the period. Trust Co. of Vermont raised its stake in shares of SunPower by 14.0% in the first quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock worth $74,000 after buying an additional 1,400 shares during the period. DAVENPORT & Co LLC bought a new position in shares of SunPower in the second quarter worth about $132,000. Finally, ETF Managers Group LLC raised its stake in shares of SunPower by 9.8% in the first quarter. ETF Managers Group LLC now owns 17,937 shares of the semiconductor company’s stock worth $117,000 after buying an additional 1,598 shares during the period. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SunPower stock traded down $0.10 during trading on Thursday, hitting $11.40. 1,333,200 shares of the company’s stock traded hands, compared to its average volume of 1,958,519. SunPower has a 1 year low of $4.55 and a 1 year high of $12.79. The stock has a market cap of $1.62 billion, a PE ratio of -12.95 and a beta of 2.33. The stock has a 50-day simple moving average of $9.77.

SunPower Company Profile

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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