SunPower (SPWR) closed at $36.30 within the newest buying and selling session, mark
SunPower (SPWR) closed at $36.30 within the newest buying and selling session, marking a +1.06% transfer from the prior day. This alteration outpaced the S&P 500’s 0.1% acquire on the day. On the identical time, the Dow added 0.9%, and the tech-heavy Nasdaq misplaced 0.59%.
Heading into at this time, shares of the photo voltaic services and products firm had misplaced 28.1% over the previous month, lagging the Oils-Power sector’s acquire of 13.35% and the S&P 500’s acquire of 0.71% in that point.
Traders can be hoping for power from SPWR because it approaches its subsequent earnings launch. The corporate is anticipated to report EPS of $0.03, up 130% from the prior-year quarter. In the meantime, our newest consensus estimate is asking for income of $306.84 million, down 32.47% from the prior-year quarter.
For the complete yr, our Zacks Consensus Estimates are projecting earnings of $0.43 per share and income of $1.5 billion, which might characterize modifications of +714.29% and +5.37%, respectively, from the prior yr.
Traders may also discover latest modifications to analyst estimates for SPWR. These revisions assist to point out the ever-changing nature of near-term enterprise tendencies. With this in thoughts, we will take into account optimistic estimate revisions an indication of optimism in regards to the firm’s enterprise outlook.
Based mostly on our analysis, we consider these estimate revisions are instantly associated to near-team inventory strikes. To profit from this, we now have developed the Zacks Rank, a proprietary mannequin which takes these estimate modifications under consideration and supplies an actionable ranking system.
Starting from #1 (Sturdy Purchase) to #5 (Sturdy Promote), the Zacks Rank system has a confirmed, outside-audited observe report of outperformance, with #1 shares returning a median of +25% yearly since 1988. Over the previous month, the Zacks Consensus EPS estimate has moved 32.17% increased. SPWR is presently sporting a Zacks Rank of #3 (Maintain).
When it comes to valuation, SPWR is presently buying and selling at a Ahead P/E ratio of 83.54. Its business sports activities a median Ahead P/E of 63.04, so we one would possibly conclude that SPWR is buying and selling at a premium comparatively.
The Photo voltaic business is a part of the Oils-Power sector. This business presently has a Zacks Trade Rank of 182, which places it within the backside 29% of all 250+ industries.
The Zacks Trade Rank gauges the power of our particular person business teams by measuring the common Zacks Rank of the person shares throughout the teams. Our analysis reveals that the highest 50% rated industries outperform the underside half by an element of two to 1.
To observe SPWR within the coming buying and selling periods, remember to make the most of Zacks.com.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.