SunPower Co. (SPWR) Expected to Announce Earnings of $0.16 Per Share

Wall Street brokerages expect SunPower Co. (NASDAQ:SPWR) to report earnings of $0.16 per share for the current quarter, according to Zacks. Three analysts have made estimates for SunPower’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.28. SunPower reported earnings per share of ($0.64) in the same quarter last year, which would suggest a positive year over year growth rate of 125%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 21st.

On average, analysts expect that SunPower will report full year earnings of ($0.42) per share for the current fiscal year, with EPS estimates ranging from ($0.92) to ($0.21). For the next financial year, analysts expect that the company will post earnings of $0.09 per share, with EPS estimates ranging from ($0.48) to $0.44. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow SunPower.

SunPower (NASDAQ:SPWR) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.60. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The firm had revenue of $477.20 million for the quarter, compared to analyst estimates of $383.76 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was down 34.6% compared to the same quarter last year.

A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird upgraded shares of SunPower from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $10.00 in a research note on Monday, December 11th. ValuEngine lowered shares of SunPower from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of SunPower from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Morgan Stanley lowered shares of SunPower from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $7.22 to $6.00 in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. SunPower currently has a consensus rating of “Hold” and an average target price of $9.85.

SunPower (NASDAQ:SPWR) traded down $0.20 during mid-day trading on Wednesday, hitting $8.90. 1,959,022 shares of the company were exchanged, compared to its average volume of 3,147,529. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.02 and a current ratio of 1.41. SunPower has a 12-month low of $5.84 and a 12-month high of $11.70.

In related news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total value of $177,240.00. Following the completion of the transaction, the director now directly owns 55,924 shares of the company’s stock, valued at $419,430. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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. Schwab Charles Investment Management Inc. boosted its holdings in SunPower by 9.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 101,262 shares of the semiconductor company’s stock valued at $618,000 after purchasing an additional 8,721 shares in the last quarter. Rhumbline Advisers boosted its holdings in SunPower by 30.9% in the second quarter. Rhumbline Advisers now owns 76,751 shares of the semiconductor company’s stock valued at $717,000 after purchasing an additional 18,129 shares in the last quarter. Legal & General Group Plc boosted its holdings in SunPower by 422.8% in the second quarter. Legal & General Group Plc now owns 18,245 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 14,755 shares in the last quarter. GAM Holding AG boosted its holdings in 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 purchasing an additional 388,311 shares in the last quarter. Finally, Shelter Mutual Insurance Co boosted its holdings in SunPower by 1,018.2% in the second quarter. Shelter Mutual Insurance Co now owns 177,800 shares of the semiconductor company’s stock valued at $1,661,000 after purchasing an additional 161,900 shares in the last quarter. 25.39% of the stock is owned by hedge funds and other institutional investors.

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SunPower Company Profile

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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