What is Zacks Research’s Estimate for WPRT FY2024 Earnings?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Westport Fuel Systems in a report issued on Tuesday, December 3rd. Zacks Research analyst L. Shahu now forecasts that the auto parts company will post earnings per share of ($1.74) 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.

Several other equities research analysts have also recently commented on WPRT. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Westport Fuel Systems in a research note on Friday, November 15th. StockNews.com raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price target on shares of Westport Fuel Systems in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.13.

Westport Fuel Systems Price Performance

WPRT stock opened at $4.34 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.60 and a debt-to-equity ratio of 0.16. Westport Fuel Systems has a fifty-two week low of $3.91 and a fifty-two week high of $7.64. The business has a fifty day moving average price of $4.34 and a 200 day moving average price of $5.23.

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

Hedge Funds Weigh In On Westport Fuel Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in Westport Fuel Systems during the second quarter worth approximately $67,000. US Bancorp DE increased its stake in shares of Westport Fuel Systems by 170.7% during the third quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after purchasing an additional 118,780 shares during the period. Finally, Grace & White Inc. NY increased its stake in shares of Westport Fuel Systems by 19.0% during the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock worth $3,416,000 after purchasing an additional 118,860 shares during the period. 21.30% of the stock is 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.