Equities analysts expect SunPower Co. (NASDAQ:SPWR) to report earnings of ($0.04) per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for SunPower’s earnings, with estimates ranging from ($0.22) to $0.24. SunPower posted earnings of ($0.01) per share during the same quarter last year, which would indicate a negative year over year growth rate of 300%. The business is scheduled to report its next earnings report 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 post earnings of $0.14 per share, with EPS estimates ranging from ($0.40) to $0.71. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for SunPower.

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

Several analysts recently issued reports on the company. BidaskClub raised SunPower from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. ValuEngine raised SunPower from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. initiated coverage on shares of SunPower in a report on Thursday, April 11th. They set a “neutral” rating and a $7.50 target price for the company. Morgan Stanley set a $6.00 target price on shares of SunPower and gave the company a “sell” rating in a report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded shares of SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 target price for the company in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.82.

In related news, EVP Kenneth Lawrence Mahaffey sold 32,248 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $7.98, for a total value of $257,339.04. Following the completion of the transaction, the executive vice president now directly owns 67,796 shares in the company, valued at approximately $541,012.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Manavendra Sial sold 8,177 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $8.06, for a total transaction of $65,906.62. Following the completion of the transaction, the chief financial officer now owns 8,178 shares of the company’s stock, valued at $65,914.68. The disclosure for this sale can be found here. Insiders have sold 74,034 shares of company stock valued at $588,421 over the last quarter. Company insiders own 1.04% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC raised its holdings in SunPower by 55,714.3% in the 1st quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 3,900 shares during the last quarter. Exane Derivatives raised its holdings in SunPower by 36.3% in the 1st quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 1,625 shares during the last quarter. Trust Co. of Vermont raised its holdings in SunPower by 14.0% in the 1st quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 1,400 shares during the last quarter. ETF Managers Group LLC raised its holdings in SunPower by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 2,226 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in SunPower by 11.7% in the 4th quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 2,214 shares during the last quarter. Institutional investors own 26.52% of the company’s stock.

NASDAQ SPWR opened at $7.78 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 39.39. The stock has a market capitalization of $1.11 billion, a P/E ratio of -8.84 and a beta of 2.32. SunPower has a 1 year low of $4.55 and a 1 year high of $8.99.

About SunPower

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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