SunPower Corporation (SPWR) Releases Earnings Results, Misses Expectations By $-0.07 EPS

SunPower Corporation (SPWR) reported quarterly earnings results on Thursday, May-5-2016. The company reported $-0.30 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $-0.23. The company posted revenue of $433.60 million in the period, compared to analysts expectations of $328.76 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on SunPower Corporation. SunPower Corporation was Initiated by Guggenheim to “Neutral” on Apr 13, 2016. Mizuho Initiated SunPower Corporation on Mar 31, 2016 to “Neutral”, Price Target of the shares are set at $25.SunPower Corporation was Initiated by Northland Capital to “Outperform” on Feb 26, 2016.

SunPower Corporation closed down -0.43 points or -2.35% at $17.9 with 22,86,638 shares getting traded on Wednesday. Post opening the session at $18.3, the shares hit an intraday low of $17.63 and an intraday high of $18.71 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 22, 2016, Eric Branderiz (SVP and Prin Acct Off) sold 6,365 shares at $25.00 per share price. According to the SEC, on Mar 14, 2016, Thomas H Werner (Director, Pres and CEO) sold 10,000 shares at $22.70 per share price. On Mar 11, 2016, Douglas J. Richards (EVP, Administration) sold 47,348 shares at $22.73 per share price, according to the Form-4 filing with the securities and exchange commission.

SunPower Corporation (SunPower) is a global energy company. The Company provides design manufacturing installation ongoing maintenance and monitoring and adjacent services. The Company provides solar technology to residential commercial and utility customers worldwide. The Company operates through three segments: the Americas Segment the EMEA Segment and the APAC Segment. The Company offers solar power components solar power systems and residential leases. The Company sells panels and balance of system components primarily to dealers system integrators and distributors. The Company designs manufactures and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Company offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.

SunPower Corporation

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