SunPower (NASDAQ:SPWR) announced its earnings results on Thursday. The semiconductor company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.05, Morningstar.com reports. SunPower had a negative return on equity of 2,775.24% and a negative net margin of 46.65%. The business had revenue of $348.22 million for the quarter, compared to analyst estimates of $387.93 million. During the same quarter last year, the firm earned ($0.20) EPS. SunPower’s revenue for the quarter was down 11.1% compared to the same quarter last year. SunPower updated its FY 2019 guidance to EPS and its Q2 2019 guidance to EPS.
SPWR stock traded up $0.82 during mid-day trading on Friday, reaching $8.20. The company had a trading volume of 7,809,826 shares, compared to its average volume of 1,411,885. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 39.39. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -9.32 and a beta of 2.32. SunPower has a 52 week low of $4.55 and a 52 week high of $9.60.
Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in SunPower by 40.4% in the fourth quarter. Rhumbline Advisers now owns 90,729 shares of the semiconductor company’s stock valued at $451,000 after purchasing an additional 26,089 shares in the last quarter. Canal Insurance CO bought a new position in shares of SunPower during the 4th quarter worth approximately $298,000. Vanguard Group Inc boosted its stake in shares of SunPower by 10.2% during the 3rd quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after acquiring an additional 580,984 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of SunPower by 55.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 17,431 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of SunPower by 75.1% during the 4th quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 11,124 shares during the period. Hedge funds and other institutional investors own 26.72% of the company’s stock.
WARNING: “SunPower (SPWR) Announces Earnings Results, Beats Expectations By $0.05 EPS” was originally reported by WKRB News and is the sole property of of WKRB News. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.wkrb13.com/2019/05/11/sunpower-spwr-announces-earnings-results-beats-expectations-by-0-05-eps.html.
SunPower Company Profile
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.
Featured Article: What is diluted earnings per share (Diluted EPS)?
Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.