Brokerages Expect Westport Fuel Systems Inc (WPRT) Will Announce Quarterly Sales of $56.81 Million

Brokerages predict that Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) will announce sales of $56.81 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Westport Fuel Systems’ earnings, with estimates ranging from $51.50 million to $62.12 million. Westport Fuel Systems reported sales of $60.76 million in the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The business is scheduled to issue its next earnings results after the market closes on Thursday, November 8th.

According to Zacks, analysts expect that Westport Fuel Systems will report full-year sales of $259.66 million for the current financial year, with estimates ranging from $245.10 million to $274.21 million. For the next fiscal year, analysts expect that the company will post sales of $291.35 million, with estimates ranging from $282.20 million to $300.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Westport Fuel Systems.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its earnings results on Thursday, August 9th. The auto parts company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Westport Fuel Systems had a negative net margin of 17.94% and a negative return on equity of 40.52%. The company had revenue of $80.49 million during the quarter, compared to analysts’ expectations of $64.50 million.

Several research analysts recently weighed in on the stock. Lake Street Capital boosted their price objective on shares of Westport Fuel Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research cut shares of Westport Fuel Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. HC Wainwright assumed coverage on shares of Westport Fuel Systems in a research report on Thursday, September 20th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, BidaskClub cut shares of Westport Fuel Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $4.42.

Hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in Westport Fuel Systems in the 2nd quarter worth approximately $151,000. Granite Investment Partners LLC acquired a new stake in Westport Fuel Systems during the 2nd quarter worth $342,000. Trellus Management Company LLC grew its holdings in Westport Fuel Systems by 18.8% during the 2nd quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock worth $481,000 after acquiring an additional 30,000 shares during the period. Ardsley Advisory Partners grew its holdings in Westport Fuel Systems by 42.9% during the 2nd quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock worth $1,265,000 after acquiring an additional 150,000 shares during the period. Finally, Paradigm Capital Management Inc. NY grew its holdings in Westport Fuel Systems by 229.2% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock worth $1,663,000 after acquiring an additional 457,780 shares during the period. Hedge funds and other institutional investors own 22.34% of the company’s stock.

WPRT stock traded down $0.06 during trading on Thursday, hitting $2.43. The company had a trading volume of 317,695 shares, compared to its average volume of 511,224. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.52. Westport Fuel Systems has a 12 month low of $2.10 and a 12 month high of $4.33.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.

See Also: What is the Dividend Aristocrat Index?

Get a free copy of the Zacks research report on Westport Fuel Systems (WPRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Westport Fuel Systems (NASDAQ:WPRT)

Receive News & Ratings for Westport Fuel Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westport Fuel Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply