SunPower Corp (NASDAQ:SPWR) shares are trading higher. The company on Thursday provided a financing update.
What Happened: SunPower announced that it received additional waiver extensions from Atlas Securitized Products Holdings and Bank of America, extending the latest temporary waivers until Feb. 16.
The residential solar company also announced that it received commitments for $20 million in financing from majority shareholders TotalEnergies and Global Infrastructure Partners.
“SunPower will use the runway afforded by this financing and the extensions to continue discussions with key financial partners as it evaluates all strategic alternatives toward a long-term financial solution,” the company said.
SunPower is set to report fourth-quarter financial results before the market open on Feb. 15. Analysts are anticipating a loss of 24 cents per share and revenue of $362.852 million, according to Benzinga Pro.
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Is SPWR A Good Stock To Buy?
An investor needs to make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action, which you can find on Benzinga’s quote pages – like SunPower‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. SunPower does not pay a dividend, but the company has a few ways it can return value to shareholders. Feel free to search Benzinga’s dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you’re looking to earn an annualized return of 15.95%, you’ll need to buy a share of Cushing MLP & Infr Total by May 14. Once done, you can expect to receive a nominal payout of $0.45 on May 31.
Buyback programs are different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on SunPower will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
SPWR Price Action: SunPower shares were up 22.9% at $3.72 at the time of writing, according to Benzinga Pro.
Photo: Leopictures from Pixabay.
