Westport Fuel Systems Inc. (NASDAQ:WPRT) to Post Q2 2024 Earnings of ($0.45) Per Share, Zacks Research Forecasts

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Investment analysts at Zacks Research raised their Q2 2024 earnings per share estimates for Westport Fuel Systems in a report issued on Monday, April 15th. Zacks Research analyst L. Shahu now anticipates that the auto parts company will post earnings of ($0.45) per share for the quarter, up from their prior estimate of ($0.46). The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($1.73) per share. Zacks Research also issued estimates for Westport Fuel Systems’ Q3 2024 earnings at ($0.46) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.88) EPS, Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.28) EPS, FY2025 earnings at ($1.09) EPS and FY2026 earnings at ($0.04) EPS.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings results on Monday, March 25th. The auto parts company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Westport Fuel Systems had a negative return on equity of 26.18% and a negative net margin of 14.97%. The company had revenue of $87.20 million for the quarter, compared to analyst estimates of $82.00 million.

A number of other brokerages have also recently commented on WPRT. Royal Bank of Canada cut their price target on shares of Westport Fuel Systems from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 27th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Westport Fuel Systems in a research note on Wednesday, March 27th. TD Securities lowered their price target on Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Westport Fuel Systems in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Westport Fuel Systems has a consensus rating of “Hold” and a consensus target price of $15.10.

Westport Fuel Systems Price Performance

NASDAQ:WPRT opened at $5.64 on Wednesday. The stock has a market capitalization of $96.87 million, a PE ratio of -1.97 and a beta of 2.45. Westport Fuel Systems has a 1-year low of $4.90 and a 1-year high of $12.00. The firm has a fifty day simple moving average of $6.09 and a 200 day simple moving average of $6.20. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its position in shares of Westport Fuel Systems by 107.6% in the third quarter. Captrust Financial Advisors now owns 34,876 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 18,076 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake 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 valued at $34,000 after purchasing an additional 8,800 shares during the period. Two Sigma Investments LP bought a new stake in Westport Fuel Systems in the 4th quarter valued at $45,000. Cibc World Market Inc. acquired a new position in Westport Fuel Systems in the 1st quarter valued at $51,000. Finally, Envestnet Asset Management Inc. increased its position in Westport Fuel Systems by 251.1% during 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. 21.30% of the stock is owned by institutional investors.

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, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.