In the latest trading session, SunPower closed at $0.80, marking a -1.6% move from the previous day. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 1.28%.
Shares of the solar products and services company have depreciated by 70.17% over the course of the past month, underperforming the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of SunPower in its forthcoming earnings report. In that report, analysts expect SunPower to post earnings of -$0.16 per share. This would mark a year-over-year decline of 23.08%. Meanwhile, our latest consensus estimate is calling for revenue of $352.99 million, down 23.9% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.53 per share and a revenue of $1.44 billion, representing changes of +41.76% and -15.02%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SunPower. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 11.49% rise in the Zacks Consensus EPS estimate. SunPower is holding a Zacks Rank of #5 (Strong Sell) right now.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SunPower (SPWR) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, SunPower closed at $0.80, marking a -1.6% move from the previous day. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 1.28%.
Shares of the solar products and services company have depreciated by 70.17% over the course of the past month, underperforming the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of SunPower in its forthcoming earnings report. In that report, analysts expect SunPower to post earnings of -$0.16 per share. This would mark a year-over-year decline of 23.08%. Meanwhile, our latest consensus estimate is calling for revenue of $352.99 million, down 23.9% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.53 per share and a revenue of $1.44 billion, representing changes of +41.76% and -15.02%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SunPower. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 11.49% rise in the Zacks Consensus EPS estimate. SunPower is holding a Zacks Rank of #5 (Strong Sell) right now.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.