Zacks: Analysts Expect SunPower Co. (SPWR) Will Post Earnings of $0.16 Per Share

Brokerages predict that SunPower Co. (NASDAQ:SPWR) will report earnings of $0.16 per share for the current quarter, Zacks reports. Three analysts have made estimates for SunPower’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.28. SunPower reported earnings per share of ($0.64) during the same quarter last year, which suggests a positive year over year growth rate of 125%. The company is expected to issue its next earnings report on Wednesday, February 21st.

On average, analysts expect that SunPower will report full-year earnings of ($0.45) per share for the current financial year, with EPS estimates ranging from ($0.92) to ($0.21). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.02) per share, with EPS estimates ranging from ($0.48) to $0.37. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for SunPower.

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

A number of equities analysts have weighed in on the company. Bank of America set a $10.00 target price on SunPower and gave the stock a “hold” rating in a research note on Thursday, December 28th. BidaskClub upgraded SunPower from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. ValuEngine lowered SunPower from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Zacks Investment Research lowered SunPower from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Cowen restated a “buy” rating and issued a $12.00 target price on shares of SunPower in a research note on Sunday, September 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.85.

SunPower (NASDAQ:SPWR) opened at $8.65 on Friday. The firm has a market capitalization of $1,210.00, a PE ratio of -2.15 and a beta of 3.16. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. SunPower has a one year low of $5.84 and a one year high of $11.70.

In other news, Director Catherine A. Lesjak sold 23,632 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total transaction of $177,240.00. Following the transaction, the director now directly owns 55,924 shares in the company, valued at approximately $419,430. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of SPWR. Schwab Charles Investment Management Inc. boosted its holdings in SunPower by 134.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 237,071 shares of the semiconductor company’s stock valued at $2,215,000 after acquiring an additional 135,809 shares during the period. Rhumbline Advisers boosted its holdings in SunPower by 30.9% during the 2nd quarter. Rhumbline Advisers now owns 76,751 shares of the semiconductor company’s stock valued at $717,000 after acquiring an additional 18,129 shares during the period. Legal & General Group Plc boosted its holdings in SunPower by 422.8% during the 2nd quarter. Legal & General Group Plc now owns 18,245 shares of the semiconductor company’s stock valued at $171,000 after acquiring an additional 14,755 shares during the period. Alliancebernstein L.P. boosted its holdings in SunPower by 13.6% during the 2nd quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 5,610 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in SunPower by 73.7% during the 2nd quarter. Teachers Advisors LLC now owns 147,712 shares of the semiconductor company’s stock valued at $1,380,000 after acquiring an additional 62,684 shares during the period. Institutional investors own 25.39% of the company’s stock.

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About SunPower

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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