In the latest trading session, SunPower (SPWR) closed at $9.58, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.95%, and the Nasdaq, a tech-heavy index, lost 0.83%.
Heading into today, shares of the solar products and services company had lost 37.31% over the past month, lagging the Oils-Energy sector's loss of 4.62% and the S&P 500's loss of 0.1% in that time.
Investors will be hoping for strength from SPWR as it approaches its next earnings release. The company is expected to report EPS of -$0.01, up 96.55% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $464.30 million, up 4.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.47 per share and revenue of $2.01 billion. These totals would mark changes of +34.72% and +10.56%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SPWR. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SPWR currently has a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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