Westport Fuel Systems Inc. (NASDAQ:WPRT – Free Report) (TSE:WPRT) – Equities researchers at Zacks Research lowered their Q3 2023 earnings per share (EPS) estimates for shares of Westport Fuel Systems in a research report issued on Thursday, September 21st. Zacks Research analyst L. Shahu now anticipates that the auto parts company will earn ($0.75) per share for the quarter, down from their prior forecast of ($0.73). The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($2.43) per share. Zacks Research also issued estimates for Westport Fuel Systems’ Q4 2023 earnings at ($0.67) EPS, FY2023 earnings at ($2.63) EPS, Q2 2024 earnings at ($0.47) EPS, Q3 2024 earnings at ($0.32) EPS, Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.72) EPS and FY2025 earnings at ($0.87) EPS.
Several other research analysts have also issued reports on the company. Royal Bank of Canada reduced their target price on Westport Fuel Systems from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 10th. TD Cowen cut their price objective on Westport Fuel Systems from $12.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 10th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Westport Fuel Systems in a report on Thursday, August 10th. StockNews.com assumed coverage on Westport Fuel Systems in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Oppenheimer increased their price objective on Westport Fuel Systems from $6.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.75.
Westport Fuel Systems Trading Down 1.1 %
Shares of NASDAQ:WPRT opened at $6.54 on Monday. The business’s 50-day moving average is $8.36 and its 200 day moving average is $8.15. Westport Fuel Systems has a 1 year low of $6.40 and a 1 year high of $13.40. The firm has a market capitalization of $112.29 million, a P/E ratio of -2.13 and a beta of 2.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.84 and a quick ratio of 1.22.
Westport Fuel Systems (NASDAQ:WPRT – Get Free Report) (TSE:WPRT) last issued its quarterly earnings data on Tuesday, August 8th. The auto parts company reported ($0.60) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.60). The firm had revenue of $85.02 million during the quarter, compared to analysts’ expectations of $84.88 million. Westport Fuel Systems had a negative return on equity of 24.90% and a negative net margin of 16.64%.
Institutional Trading of Westport Fuel Systems
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates grew its holdings in Westport Fuel Systems by 32.3% during the fourth quarter. Raymond James & Associates now owns 263,600 shares of the auto parts company’s stock worth $204,000 after acquiring an additional 64,300 shares during the period. Mackenzie Financial Corp grew its holdings in Westport Fuel Systems by 114.3% during the first quarter. Mackenzie Financial Corp now owns 60,655 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 32,350 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Westport Fuel Systems by 165.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,562 shares of the auto parts company’s stock worth $75,000 after acquiring an additional 49,000 shares during the period. Envestnet Asset Management Inc. boosted its position in Westport Fuel Systems by 251.1% during the first quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 25,111 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new position in Westport Fuel Systems during the first quarter worth approximately $51,000. 9.87% of the stock is owned by institutional investors and hedge funds.
Westport Fuel Systems Company Profile
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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