Why SunPower Stock Lost 8% After Earnings
Shares of solar power stock (NASDAQ: SPWR) dropped 8.2% through 11:30 a.m. ET on Wednesday, after the company reported a big "earnings miss" this morning.
Heading into Q3, analysts weren't particularly optimistic about SunPower's chances, forecasting only break-even earnings on $455 million in quarterly sales. SunPower, however, managed to miss both those marks, losing a non-GAAP (adjusted) $0.12 per share and with revenues coming in shy of forecasts at $432 million.
And that was the good news. The bad news is that sales not only missed estimates but were also down 9% year over year. And although SunPower's non-GAAP loss was $0.12 per share, its loss when calculated according to generally accepted accounting principles (GAAP) was nearly half again as big -- $0.17 per share -- versus a $0.73-per-share profit a year ago.
Source Fool.com
Sunpower Corp. Stock
Currently there is a rather negative sentiment for Sunpower Corp. with 9 Buy predictions and 13 Sell predictions..
On the other hand, the target price of 7 € is above the current price of 2.0 € for Sunpower Corp., so the potential is actually 250.28%.
