In the latest trading session, SunPower (SPWR) closed at $12.29, marking a +0.08% move from the previous day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Coming into today, shares of the solar products and services company had lost 7.04% in the past month. In that same time, the Oils-Energy sector gained 1.75%, while the S&P 500 gained 2.25%.
Wall Street will be looking for positivity from SPWR as it approaches its next earnings report date. The company is expected to report EPS of -$0.01, up 96.55% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $464.30 million, up 4.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.47 per share and revenue of $2.01 billion, which would represent changes of +34.72% and +10.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SPWR. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection 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 31, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SPWR in the coming trading sessions, be sure to utilize Zacks.com.
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