Zacks: Analysts Anticipate Westport Fuel Systems Inc (WPRT) Will Announce Quarterly Sales of $54.75 Million

Wall Street analysts expect that Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) will post $54.75 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Westport Fuel Systems’ earnings. The lowest sales estimate is $51.00 million and the highest is $58.50 million. Westport Fuel Systems posted sales of $44.36 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 8th.

On average, analysts expect that Westport Fuel Systems will report full-year sales of $54.75 million for the current year, with estimates ranging from $223.50 million to $227.39 million. For the next year, analysts forecast that the firm will report sales of $256.27 million per share, with estimates ranging from $239.90 million to $272.63 million. Zacks’ sales averages are an average based on a survey of research firms that cover Westport Fuel Systems.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last released its quarterly earnings results on Thursday, May 11th. The auto parts company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.03. Westport Fuel Systems had a negative net margin of 44.93% and a negative return on equity of 101.18%. The firm had revenue of $60 million during the quarter, compared to the consensus estimate of $77.71 million. The business’s revenue for the quarter was up 150.0% on a year-over-year basis.

WPRT has been the subject of a number of research analyst reports. S&P Equity Research reduced their price target on shares of Westport Fuel Systems from $1.00 to $0.88 in a research report on Friday, March 24th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Westport Fuel Systems in a research report on Tuesday, March 28th.

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Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of Westport Fuel Systems by 496.2% in the first quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock valued at $103,000 after buying an additional 89,931 shares during the last quarter. KCG Holdings Inc. raised its position in shares of Westport Fuel Systems by 313.2% in the first quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock valued at $122,000 after buying an additional 96,365 shares during the last quarter. US Bancorp DE raised its position in shares of Westport Fuel Systems by 62.7% in the first quarter. US Bancorp DE now owns 250,200 shares of the auto parts company’s stock valued at $240,000 after buying an additional 96,401 shares during the last quarter. Norges Bank acquired a new position in shares of Westport Fuel Systems during the fourth quarter valued at $508,000. Finally, Grace & White Inc. NY raised its position in shares of Westport Fuel Systems by 14.0% in the first quarter. Grace & White Inc. NY now owns 2,091,080 shares of the auto parts company’s stock valued at $2,007,000 after buying an additional 256,129 shares during the last quarter. 12.23% of the stock is currently owned by hedge funds and other institutional investors.

Westport Fuel Systems (NASDAQ WPRT) traded up 3.11% on Friday, hitting $1.66. 666,778 shares of the company traded hands. Westport Fuel Systems has a 12 month low of $0.82 and a 12 month high of $1.96. The stock’s 50-day moving average is $1.44 and its 200 day moving average is $1.21. The stock’s market cap is $183.13 million.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc (Westport), formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.

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