Equities research analysts forecast that Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) will report $56.81 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Westport Fuel Systems’ earnings, with the lowest sales estimate coming in at $51.50 million and the highest estimate coming in at $62.12 million. Westport Fuel Systems posted sales of $60.76 million in the same quarter last year, which would indicate a negative year over year growth rate of 6.5%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, November 8th.
According to Zacks, analysts expect that Westport Fuel Systems will report full-year sales of $259.66 million for the current fiscal year, with estimates ranging from $245.10 million to $274.21 million. For the next fiscal year, analysts anticipate that the business will post sales of $291.35 million, with estimates ranging from $282.20 million to $300.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Westport Fuel Systems.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its earnings results on Thursday, August 9th. The auto parts company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Westport Fuel Systems had a negative return on equity of 40.52% and a negative net margin of 17.94%. The firm had revenue of $80.49 million for the quarter, compared to analysts’ expectations of $64.50 million.
Several analysts recently commented on WPRT shares. HC Wainwright started coverage on Westport Fuel Systems in a research report on Thursday, September 20th. They issued a “buy” rating and a $6.00 target price on the stock. Zacks Investment Research cut Westport Fuel Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Lake Street Capital raised their target price on Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, BidaskClub cut Westport Fuel Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.42.
Several hedge funds have recently modified their holdings of WPRT. Trellus Management Company LLC increased its position in shares of Westport Fuel Systems by 18.8% during the 2nd quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock valued at $481,000 after purchasing an additional 30,000 shares during the period. Granite Investment Partners LLC acquired a new position in shares of Westport Fuel Systems during the 2nd quarter valued at $342,000. Paradigm Capital Management Inc. NY increased its position in shares of Westport Fuel Systems by 229.2% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock valued at $1,663,000 after purchasing an additional 457,780 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Westport Fuel Systems during the 2nd quarter valued at $151,000. Finally, Cortina Asset Management LLC increased its position in shares of Westport Fuel Systems by 20.6% during the 2nd quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock valued at $4,879,000 after purchasing an additional 330,047 shares during the period. Institutional investors own 23.46% of the company’s stock.
WPRT traded down $0.10 during trading hours on Thursday, hitting $2.52. The company’s stock had a trading volume of 397,985 shares, compared to its average volume of 654,175. Westport Fuel Systems has a fifty-two week low of $2.10 and a fifty-two week high of $4.33. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.52 and a quick ratio of 1.14. The stock has a market cap of $321.90 million, a P/E ratio of -5.73 and a beta of 2.38.
Westport Fuel Systems Company Profile
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.
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