SunPower Corporation (NASDAQ:SPWR) is reporting third quarter earnings results on Wednesday 28th October 2020, after market close.
The consensus estimates from Thomson Reuters are loss of $ 0.05 per share.
For the full year, analysts predict revenues of $ 1392.66 million, while looking forward to loss of $ 0.29 per share.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 360.00 million ~ $ 400.00 million
Full Year 2020 topline are forecasted in a range of$ 1,060.00 million ~ $ 1,100.00 million
Click Here For More Historical Outlooks Of SunPower Corporation
Previous Quarter Performance
SunPower Corporation unveiled loss for the second quarter of $ 0.22 per share, from the revenue of $ 352.91 million. According to street consensus, SPWR was expected to report 2Q20 loss of $ 0.39 per share from revenue of $ 310.05 million. The bottom line results beat street analysts by $ 0.17 or 43.59 percent, at the same time, top line results outshined analysts by $ 42.86 million or 13.82 percent.
Stock Performance
Shares of SunPower Corporation traded low $ -0.93 or -5.66 percent on Tuesday, reaching $ 15.49 with volume of 8.79 million shares. SunPower Corporation has traded high as $ 16.28 and has cracked $ 15.13 on the downward trend
According to the previous trading day, closing price of $ 15.49, representing a 521.97 % increase from the 52 week low of $ 2.64 and a 15.27 % decrease over the 52 week high of $ 19.38.
The company has a market capital of $ 2.63 billion and is part of the Technology sector and Solar industry.
Recent Analyst recommendations
- On 7th October 2020, initiated by Piper Sandler at Overweight rating, with $ 20.00 target price.
- On 23rd September 2020, maintained by Roth Capital at Neutral rating, with $ 10.00 target price.
- On 18th September 2020, upgraded by Morgan Stanley to Equal-Weight from Underweight rating.
Conference Call
SunPower Corporation will be hosting a conference call at 4:30 PM eastern time on 28th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website global.sunpower.com
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.
