SunPower predicts 2021 earnings before interest, taxes, depreciation and amortization of $120 million, compared with the Bloomberg analyst consensus of $123 million.
The San Jose, Calif., company’s Ebitda estimate for 2022 is $168 million, below the analyst consensus of $186 million.
The stock recently traded at $38.56, down 12%. But it has blasted off by a factor of 7 in the past year amid investors' mania for alternative-energy stocks.
Piper Sandler analysts rate SunPower neutral with a $35 price target. Seasonality affected earnings guidance, and the commercial sector hurt fourth-quarter results, they said, according to Bloomberg.
They predicted SunPower shares will underperform the sector going forward, given their recent outperformance.
Cowen rates SunPower market perform and more than doubled its price target to $38 from $17. SunPower was “priced to perfection” ahead of its earnings report, Cowen analysts said. So they expected a decline for the stock in light of its Ebitda guidance.
Roth Capital Partners has a neutral rating for SunPower with a $40 price target. Lower megawatts deployed hurt fourth-quarter revenue, Roth analysts said. They saw confusion regarding the guidance.
“Many were focused on the 2021 adjusted Ebitda margin guide, and were expecting greater than 10%, though management clarified with us that this is just for the [residential] segment,” the analysts wrote, according to Bloomberg.