Zacks: Analysts Anticipate Westport Fuel Systems Inc (WPRT) Will Post Quarterly Sales of $56.81 Million

Equities analysts expect Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) to post sales of $56.81 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Westport Fuel Systems’ earnings, with estimates ranging from $51.50 million to $62.12 million. Westport Fuel Systems posted sales of $60.76 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 13th.

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

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



Several research analysts recently commented on the company. Zacks Investment Research cut Westport Fuel Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. HC Wainwright started coverage on Westport Fuel Systems in a research note on Thursday, September 20th. They issued a “buy” rating and a $6.00 price target on the stock. BidaskClub lowered Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Finally, Lake Street Capital boosted their price objective on Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $4.42.

Shares of NASDAQ:WPRT traded up $0.02 during trading on Monday, hitting $2.84. The company’s stock had a trading volume of 378,800 shares, compared to its average volume of 673,049. 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 fifty-two week low of $2.10 and a fifty-two week high of $4.33. The stock has a market cap of $395.19 million, a price-to-earnings ratio of -6.43 and a beta of 2.27.

A number of institutional investors have recently made changes to their positions in WPRT. Trellus Management Company LLC increased its holdings in Westport Fuel Systems by 18.8% in the second quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock valued at $481,000 after buying an additional 30,000 shares during the last quarter. Granite Investment Partners LLC bought a new stake in Westport Fuel Systems in the second quarter valued at about $342,000. Paradigm Capital Management Inc. NY increased its holdings in Westport Fuel Systems by 229.2% in the second quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock valued at $1,663,000 after buying an additional 457,780 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Westport Fuel Systems in the second quarter valued at about $151,000. Finally, Cortina Asset Management LLC increased its holdings in Westport Fuel Systems by 20.6% in the second quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock valued at $4,879,000 after buying an additional 330,047 shares during the last quarter. 22.51% of the stock is owned by hedge funds and other institutional investors.

About Westport Fuel Systems

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.

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