Published on 20 Aug 2023 on Simply Wall St. via Yahoo Finance

Time To Worry? Analysts Are Downgrading Their Sunworks, Inc. (NASDAQ:SUNW) Outlook

Market forces rained on the parade of Sunworks, Inc. (NASDAQ:SUNW) shareholders today, when the analysts downgraded their forecasts for this year. Both revenue and earnings per share (EPS) estimates were cut sharply as analysts factored in the latest outlook for the business, concluding that they were too optimistic previously.

Following the downgrade, the latest consensus from Sunworks' two analysts is for revenues of US$172m in 2023, which would reflect a reasonable 2.9% improvement in sales compared to the last 12 months. Losses are supposed to balloon 25% to US$0.89 per share. Yet before this consensus update, the analysts had been forecasting revenues of US$194m and losses of US$0.46 per share in 2023. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a serious cut to their revenue forecasts while also expecting losses per share to increase.

Check out our latest analysis for Sunworks