Westport Fuel Systems Inc. Forecasted to Earn Q2 2024 Earnings of ($0.45) Per Share (NASDAQ:WPRT)

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Equities research analysts at Zacks Research raised their Q2 2024 earnings estimates for Westport Fuel Systems in a research report issued on Monday, April 15th. Zacks Research analyst L. Shahu now forecasts 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.

Several other research analysts have also commented on the company. Royal Bank of Canada decreased their target price on Westport Fuel Systems from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 27th. TD Securities lowered their target price on shares of Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Oppenheimer restated an “outperform” rating and issued a $19.00 price target on shares of Westport Fuel Systems in a research report on Wednesday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.10.

Westport Fuel Systems Stock Down 1.3 %

Shares of Westport Fuel Systems stock opened at $5.64 on Wednesday. The business has a 50-day moving average price of $6.09 and a 200 day moving average price of $6.20. Westport Fuel Systems has a fifty-two week low of $4.90 and a fifty-two week high of $12.00. The firm has a market cap of $96.87 million, a P/E ratio of -1.97 and a beta of 2.45. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.19.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its 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 during the quarter, compared to the consensus estimate of $82.00 million.

Institutional Trading of Westport Fuel Systems

Several hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of 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 valued at $55,000 after buying an additional 25,111 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Westport Fuel Systems by 70.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 8,800 shares in the last quarter. Swiss National Bank boosted its position in Westport Fuel Systems by 18.6% during the 1st quarter. Swiss National Bank now owns 345,500 shares of the auto parts company’s stock worth $555,000 after acquiring an additional 54,200 shares during the period. US Bancorp DE grew its stake in shares of Westport Fuel Systems by 26.6% in the first quarter. US Bancorp DE now owns 350,006 shares of the auto parts company’s stock worth $553,000 after purchasing an additional 73,463 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new position in shares of Westport Fuel Systems during the first quarter valued at $51,000. 21.30% of the stock is currently owned by institutional investors.

About Westport Fuel Systems

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.