Wall Street brokerages expect SunPower Co. (NASDAQ:SPWR) to announce $838.00 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for SunPower’s earnings, with estimates ranging from $825.00 million to $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 business is scheduled to report its next earnings results after the market closes on Wednesday, February 14th.
On average, 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 expect that the firm will report sales of $2.51 billion per share, with estimates ranging from $2.31 billion to $2.78 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover SunPower.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.12 by $0.13. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $796.62 million. During the same period last year, the company earned ($0.64) earnings per share. SunPower’s quarterly revenue was down 24.9% compared to the same quarter last year.
Several analysts have commented on the company. BidaskClub raised SunPower from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Bank of America assumed coverage on SunPower in a report on Friday, December 22nd. They issued a “neutral” rating and a $10.00 price objective on the stock. ValuEngine raised SunPower from a “sell” rating to a “hold” rating in a report on Saturday, November 4th. Guggenheim reissued a “hold” rating on shares of SunPower in a report on Thursday, January 18th. Finally, Zacks Investment Research lowered SunPower from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $9.97.
In other news, Director Catherine A. Lesjak sold 23,632 shares of the firm’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 transaction, the director now owns 55,924 shares in the company, valued at $419,430. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new position in shares of SunPower in the second quarter valued at approximately $124,000. Cortland Associates Inc. MO purchased a new position in shares of SunPower in the third quarter valued at approximately $109,000. Oppenheimer & Co. Inc. purchased a new position in shares of SunPower in the third quarter valued at approximately $112,000. WFG Advisors LP lifted its position in shares of SunPower by 7.6% in the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Clarus Wealth Advisors purchased a new position in SunPower during the fourth quarter worth approximately $148,000. Institutional investors and hedge funds own 26.15% of the company’s stock.
Shares of SunPower (NASDAQ SPWR) traded up $0.10 on Friday, reaching $7.48. The company’s stock had a trading volume of 3,742,521 shares, compared to its average volume of 3,365,596. 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 one year low of $5.84 and a one year high of $11.70. The firm has a market capitalization of $1,050.00, a price-to-earnings ratio of -1.86 and a beta of 2.73.
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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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