SunPower (SPWR - Free Report) closed the most recent trading day at $8.34, moving -0.12% from the previous trading session. This change lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 1.02%, and the tech-heavy Nasdaq gained 1.66%.
Prior to today's trading, shares of the solar products and services company had gained 13.14% over the past month. This has outpaced the Oils-Energy sector's loss of 3.69% and the S&P 500's loss of 2.76% in that time.
SPWR will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.04, down 300% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $445.90 million, down 0.28% from the year-ago period.
SPWR's full-year Zacks Consensus Estimates are calling for earnings of -$0.37 per share and revenue of $1.95 billion. These results would represent year-over-year changes of +48.61% and +7.2%, respectively.
Any recent changes to analyst estimates for SPWR should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 33.71% higher within the past month. SPWR is holding a Zacks Rank of #3 (Hold) right now.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.