Market Update (NASDAQ:WFM): SolarCity (SCTY) Stock Gains on Whole Foods Partnership

[at TheStreet] – SolarCity (SCTY) stock continues to rise in midday trading on Wednesday after the company announced it will provide Whole Foods Market (WFM) stores with solar energy systems. Read more on this. Whole Foods Market, Inc. (WFM) , with a current value of $11.13B, started trading this morning at $33.67. A quick look at the market, the company’s stock traded between $33.65 and $34.25 and has traded between $28.07 and $54.88 over the past 12 months. Priced at 21.54x this year’s forecasted earnings, WFM shares are relatively inexpensive compared to the industry’s 22.26x forward p/e ratio. And for dividend hunters, the company pays shareholders $0.54 per share annually in dividends, yielding 1.66%. Consensus earnings for the current quarter by the 28 sell-side analysts covering the stock is an estimate of $0.41 per share, which would be $0.02 worse than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.56, which would be a $0.05 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.74 Billion. If realized, that would be a 2.47% increase over the year-ago quarter. More recently, Wells Fargo Initiated WFM at Market Perform (Feb 17, 2016). Previously, Longbow upgraded WFM from Underperform to Neutral. The average price target for WFM shares is $29.58, which is 12.15% below where the stock opened this morning. See more in (NASDAQ:WFM) Similar Articles: Is SolarCity Corporation (NASDAQ:SCTY) a $100 Stock? Stock Update: Whole Foods Market Inc (NASDAQ:WFM) – GPM Reminds Whole Foods Market, Inc. Investors Of the October 5th Deadline Market Update: Whole Foods Market Inc (NASDAQ:WFM) – Whole Foods Market® and Instacart Partnership Moves Mountains of Groceries in First Year