In the latest trading session, SunPower (SPWR - Free Report) closed at $49.14, marking a +0.04% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the solar products and services company had gained 52.95% over the past month, outpacing the Oils-Energy sector's gain of 0.92% and the S&P 500's gain of 2.37% in that time.
SPWR will be looking to display strength as it nears its next earnings release, which is expected to be February 17, 2021. On that day, SPWR is projected to report earnings of $0.10 per share, which would represent a year-over-year decline of 56.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $355.63 million, down 41.41% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SPWR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SPWR has a Forward P/E ratio of 107.61 right now. Its industry sports an average Forward P/E of 69.58, so we one might conclude that SPWR is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 106, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow SPWR in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
In the latest trading session, SunPower (SPWR - Free Report) closed at $49.14, marking a +0.04% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the solar products and services company had gained 52.95% over the past month, outpacing the Oils-Energy sector's gain of 0.92% and the S&P 500's gain of 2.37% in that time.
SPWR will be looking to display strength as it nears its next earnings release, which is expected to be February 17, 2021. On that day, SPWR is projected to report earnings of $0.10 per share, which would represent a year-over-year decline of 56.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $355.63 million, down 41.41% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SPWR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SPWR has a Forward P/E ratio of 107.61 right now. Its industry sports an average Forward P/E of 69.58, so we one might conclude that SPWR is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 106, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow SPWR in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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