SunPower Corporation (SPWR) Announces Earnings Results
SunPower Corporation (NASDAQ:SPWR) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.60, Bloomberg Earnings reports. The business had revenue of $477.20 million for the quarter, compared to analysts’ expectations of $383.76 million. SunPower Corporation had a negative return on equity of 20.08% and a negative net margin of 24.91%. The business’s quarterly revenue was down 34.6% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share.
Shares of SunPower Corporation (SPWR) traded up $1.41 during trading on Friday, hitting $8.54. The stock had a trading volume of 4,164,416 shares, compared to its average volume of 2,938,358.
SPWR has been the topic of a number of recent analyst reports. Cowen and Company set a $12.00 price target on SunPower Corporation and gave the company a “buy” rating in a report on Monday, July 10th. Zacks Investment Research cut SunPower Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Vetr cut SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price target on the stock. in a report on Monday, July 17th. Axiom Securities reissued a “buy” rating on shares of SunPower Corporation in a report on Saturday, July 22nd. Finally, BidaskClub cut SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $9.29.
SunPower Corporation 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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