Research Analysts Set Expectations for WPRT FY2024 Earnings

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Analysts at Zacks Research boosted their FY2024 EPS estimates for shares of Westport Fuel Systems in a research report issued on Tuesday, December 3rd. Zacks Research analyst L. Shahu now expects that the auto parts company will post earnings of ($1.74) per share for the year, up from their prior forecast of ($1.89). The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($1.74) per share. Zacks Research also issued estimates for Westport Fuel Systems’ Q4 2024 earnings at ($0.29) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.14) EPS, Q1 2026 earnings at ($0.19) EPS, Q2 2026 earnings at ($0.15) EPS, Q3 2026 earnings at ($0.11) EPS and FY2026 earnings at ($0.59) EPS.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price objective on shares of Westport Fuel Systems in a research report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Westport Fuel Systems in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Westport Fuel Systems has a consensus rating of “Hold” and a consensus price target of $14.13.

Westport Fuel Systems Stock Performance

Shares of WPRT stock opened at $4.31 on Friday. The stock’s 50-day moving average price is $4.33 and its 200 day moving average price is $5.22. The company has a quick ratio of 1.00, a current ratio of 1.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $74.41 million, a PE ratio of -2.89 and a beta of 2.87. Westport Fuel Systems has a 52-week low of $3.91 and a 52-week high of $7.64.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.57%. The company had revenue of $66.25 million for the quarter, compared to analyst estimates of $66.88 million. During the same period in the previous year, the business posted ($0.68) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WPRT. Grace & White Inc. NY lifted its holdings in Westport Fuel Systems by 19.0% in the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock valued at $3,416,000 after acquiring an additional 118,860 shares during the period. US Bancorp DE increased its holdings in shares of Westport Fuel Systems by 170.7% in the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock valued at $865,000 after purchasing an additional 118,780 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Westport Fuel Systems in the second quarter valued at about $67,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.