Westport Fuel Systems Inc. (NASDAQ:WPRT – Free Report) (TSE:WPRT) – Stock analysts at HC Wainwright cut their Q2 2023 earnings per share (EPS) estimates for shares of Westport Fuel Systems in a research report issued to clients and investors on Wednesday, July 26th. HC Wainwright analyst A. Dayal now forecasts that the auto parts company will post earnings per share of ($0.57) for the quarter, down from their prior estimate of ($0.50). HC Wainwright has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($2.26) per share. HC Wainwright also issued estimates for Westport Fuel Systems’ Q3 2023 earnings at ($0.68) EPS, Q4 2023 earnings at ($0.56) EPS, FY2023 earnings at ($2.43) EPS, FY2024 earnings at ($0.65) EPS, FY2025 earnings at ($0.31) EPS, FY2026 earnings at $0.28 EPS and FY2027 earnings at $0.91 EPS.
Separately, StockNews.com upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th.
Westport Fuel Systems Price Performance
Westport Fuel Systems (NASDAQ:WPRT – Get Free Report) (TSE:WPRT) last announced its quarterly earnings data on Monday, May 8th. The auto parts company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.20. Westport Fuel Systems had a negative return on equity of 24.26% and a negative net margin of 16.39%. The firm had revenue of $82.24 million during the quarter, compared to analyst estimates of $77.51 million.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. increased its position in Westport Fuel Systems by 70.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock worth $34,000 after buying an additional 8,800 shares during the period. Cibc World Market Inc. bought a new position in Westport Fuel Systems in the 1st quarter worth approximately $51,000. Captrust Financial Advisors increased its position in Westport Fuel Systems by 107.6% in the 3rd quarter. Captrust Financial Advisors now owns 34,876 shares of the auto parts company’s stock worth $30,000 after buying an additional 18,076 shares during the period. Envestnet Asset Management Inc. increased its position in Westport Fuel Systems by 251.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock worth $55,000 after buying an additional 25,111 shares during the period. Finally, MGO One Seven LLC increased its position in Westport Fuel Systems by 25.6% in the 4th quarter. MGO One Seven LLC now owns 54,847 shares of the auto parts company’s stock worth $42,000 after buying an additional 11,178 shares during the period.
About Westport Fuel Systems
Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, the Americas, Asia, Africa, and internationally. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments.
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