Q3 2017 EPS Estimates for SunPower Corporation (SPWR) Raised by Analyst

SunPower Corporation (NASDAQ:SPWR) – Analysts at Oppenheimer Holdings boosted their Q3 2017 earnings per share (EPS) estimates for SunPower Corporation in a note issued to investors on Wednesday. Oppenheimer Holdings analyst C. Rusch now expects that the semiconductor company will post earnings per share of ($0.53) for the quarter, up from their prior forecast of ($0.56). Oppenheimer Holdings currently has a “Outperform” rating and a $13.00 target price on the stock. Oppenheimer Holdings also issued estimates for SunPower Corporation’s Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($1.41) EPS and FY2018 earnings at ($0.26) EPS.

SunPower Corporation (NASDAQ:SPWR) last issued its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.24. The company had revenue of $341.50 million during the quarter, compared to analysts’ expectations of $312.58 million. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The business’s revenue was down 15.0% on a year-over-year basis. During the same period last year, the business earned ($0.22) earnings per share.

ILLEGAL ACTIVITY NOTICE: This story was originally published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this story on another website, it was copied illegally and reposted in violation of United States & international trademark and copyright legislation. The original version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/q3-2017-eps-estimates-for-sunpower-corporation-spwr-raised-by-analyst-updated.html.

A number of other analysts have also commented on SPWR. Deutsche Bank AG lifted their price target on SunPower Corporation from $6.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday. Vetr lowered SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price target on the stock. in a report on Monday, July 31st. Finally, Axiom Securities reiterated a “buy” rating on shares of SunPower Corporation in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.57.

SunPower Corporation (NASDAQ:SPWR) opened at 9.35 on Monday. The firm’s 50 day moving average price is $9.66 and its 200-day moving average price is $7.82. The company’s market capitalization is $1.30 billion. SunPower Corporation has a one year low of $5.84 and a one year high of $15.61.

Several institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp bought a new position in shares of SunPower Corporation during the first quarter valued at $838,000. Merriman Wealth Management LLC bought a new position in shares of SunPower Corporation during the first quarter valued at $122,000. California Public Employees Retirement System boosted its position in shares of SunPower Corporation by 2.6% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $4,169,000 after buying an additional 17,200 shares during the period. AQR Capital Management LLC boosted its position in shares of SunPower Corporation by 46.1% in the fourth quarter. AQR Capital Management LLC now owns 51,299 shares of the semiconductor company’s stock valued at $339,000 after buying an additional 16,183 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of SunPower Corporation by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,822 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,130 shares during the period. Institutional investors own 25.61% of the company’s stock.

About SunPower Corporation

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.

Receive News & Ratings for SunPower Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply