Brokerages Anticipate ReneSola Ltd. (NYSE:SOL) to Announce $0.02 EPS

ReneSola Ltd. (NYSE:SOL) has earned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Brokers have set a 1 year consensus price target of $1.30 for the company and are expecting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 68 out of 256 based on the ratings given to its competitors.

Several research firms have recently issued reports on SOL. Roth Capital reaffirmed a “neutral” rating on shares of ReneSola in a research report on Thursday, June 27th. Imperial Capital assumed coverage on SUNDANCE ENERGY/S in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $6.00 target price for the company. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday.

Shares of SOL remained flat at $$1.18 during trading hours on Friday. The stock had a trading volume of 16,672 shares, compared to its average volume of 29,346. The stock’s 50-day moving average price is $1.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $44.96 million, a PE ratio of 118.00 and a beta of 1.98. ReneSola has a 12-month low of $1.15 and a 12-month high of $2.54.

ReneSola (NYSE:SOL) last posted its quarterly earnings results on Thursday, June 27th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $13.06 million during the quarter, compared to analysts’ expectations of $8.70 million. Research analysts predict that ReneSola will post 0.06 EPS for the current fiscal year.

ReneSola Company Profile

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: solar power project development, EPC services, and electricity revenue generation. The company also develops community solar gardens; and sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components, and construction contracting and management services.

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