(SPWR) - SunPower Corporation - Four analysts have raised their numbers for both this year and next

SunPower Corporation has dramatically exceeded earnings estimates in each of the four quarters it has been public. Two of the surprises have exceeded 100%. Four analysts have raised their numbers for both this year and next. Over the past week, this year's estimates have increased 6.5% to 33 cents per share, while next year's numbers have risen 4.5% to 69 cents per share. Full Analysis SunPower Corporation (SPWR) engages in the design, development, manufacture, and sale of solar electric power products. It offers solar cells, solar panels, and inverters that generate electricity from sunlight for residential, commercial, and remote power applications. The company's solar cells are semiconductor devices that directly convert sunlight into electricity. Its solar cell product includes A-300 solar cell, a silicon solar cell with a specified power value of 3.1 watts. The company's solar panels are solar cells electrically connected together and encapsulated in a weatherproof package. Sunpower just reported a third-quarter profit of $9.6 million on a 19% sales increase. Earnings per share came in at 13 cents, a full 30% above analysts' expectations. Quarterly sales climbed 19 percent to $65.3 million from $21.9 million a year ago. For the fourth quarter, SunPower estimates sales of $70 million to $72 million and adjusted earnings of 16 cents to 17 cents per share. The company also reiterated its plan for sales of $360 million in 2007. Analysts expect fourth-quarter revenue of $70.1 million and earnings of 15 cents and target 2007 sales of $369.8 million. Tom Werner, SunPower's CEO, said, "We posted another strong quarter with operating results that exceeded our announced objectives. We saw excellent execution across the company, with significant progress on a number of fronts. Our plans for rapid growth continue on track: SunPower has tripled solar cell manufacturing capacity over the past year and we plan to more than double that capacity by the end of next year while rapidly expanding our panel manufacturing in parallel." Over the past four quarters SunPower increased by a factor of seven its share of the California residential solar retrofit market as measured by kilowatts installed. During the third quarter, as reported by the California Energy Commission, SunPower captured a 14% share of this market. SPWR has dramatically exceeded earnings estimates in each of the four quarters it has been public. Two of the surprises have exceeded 100%. Four analysts have raised their numbers for both this year and next. Over the past week, this year's estimates have increased 6.5% to 33 cents per share, while next year's numbers have risen 4.5% to 69 cents per share. The stock is trading at 44.9x next year's estimates, above the long-term growth rate of 32.25%, giving the stock a PEG ratio of 1.39. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home