$838.00 Million in Sales Expected for SunPower Co. (SPWR) This Quarter

Brokerages expect SunPower Co. (NASDAQ:SPWR) to announce $838.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for SunPower’s earnings. The lowest sales estimate is $825.00 million and the highest is $845.00 million. SunPower reported sales of $1.10 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 23.8%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that SunPower will report full-year sales of $838.00 million for the current financial year, with estimates ranging from $2.13 billion to $2.15 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.51 billion per share, with estimates ranging from $2.31 billion to $2.78 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for SunPower.

Several equities research analysts have recently weighed in on SPWR shares. BidaskClub cut SunPower from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. Bank of America began coverage on SunPower in a research report on Friday, December 22nd. They set a “neutral” rating and a $10.00 price target on the stock. Zacks Investment Research cut shares of SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Guggenheim restated a “hold” rating on shares of SunPower in a research report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.06.

Shares of SunPower (NASDAQ:SPWR) opened at $6.85 on Friday. SunPower has a 52-week low of $5.84 and a 52-week high of $11.70. The firm has a market capitalization of $964.51, a PE ratio of -1.70 and a beta of 2.73. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71.

In related news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the transaction, the director now directly owns 55,924 shares in the company, valued at $419,430. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of SunPower by 13.8% in the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares during the last quarter. Impax Asset Management LTD increased its position in shares of SunPower by 13.6% in the third quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock worth $22,438,000 after purchasing an additional 367,582 shares during the last quarter. State Street Corp increased its position in shares of SunPower by 14.0% in the second quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after purchasing an additional 296,862 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SunPower by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock worth $12,991,000 after buying an additional 3,841 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in SunPower by 447.4% in the fourth quarter. DnB Asset Management AS now owns 1,105,612 shares of the semiconductor company’s stock worth $9,320,000 after buying an additional 903,620 shares in the last quarter. Institutional investors own 26.10% of the company’s stock.

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SunPower 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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