$3.93 Million in Sales Expected for ReneSola Ltd (NYSE:SOL) This Quarter

Brokerages predict that ReneSola Ltd (NYSE:SOLGet Rating) will post $3.93 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ReneSola’s earnings. The lowest sales estimate is $3.40 million and the highest is $5.00 million. ReneSola posted sales of $22.78 million in the same quarter last year, which suggests a negative year over year growth rate of 82.7%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that ReneSola will report full-year sales of $111.13 million for the current year, with estimates ranging from $108.00 million to $115.40 million. For the next year, analysts anticipate that the company will report sales of $135.52 million, with estimates ranging from $125.20 million to $143.35 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow ReneSola.

ReneSola (NYSE:SOLGet Rating) last issued its quarterly earnings results on Wednesday, March 23rd. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $22.82 million during the quarter, compared to analyst estimates of $25.19 million. ReneSola had a return on equity of 2.67% and a net margin of 8.61%. During the same quarter last year, the firm posted $0.18 EPS.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of ReneSola from a “sell” rating to a “hold” rating and set a $5.00 price target on the stock in a research report on Wednesday. StockNews.com downgraded shares of ReneSola from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. Finally, HC Wainwright lowered their price objective on shares of ReneSola from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $9.88.

Shares of NYSE SOL traded up $0.17 during midday trading on Friday, reaching $4.86. The stock had a trading volume of 409,614 shares, compared to its average volume of 1,011,968. The firm has a market cap of $326.28 million, a price-to-earnings ratio of 48.60 and a beta of 2.27. ReneSola has a twelve month low of $3.46 and a twelve month high of $10.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.38 and a current ratio of 9.38. The company’s 50 day moving average price is $5.16 and its 200 day moving average price is $5.82.

Several large investors have recently added to or reduced their stakes in SOL. Cetera Advisors LLC increased its stake in ReneSola by 9.1% during the 3rd quarter. Cetera Advisors LLC now owns 15,773 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 1,310 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in ReneSola by 17.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,634 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 2,769 shares in the last quarter. Deutsche Bank AG increased its stake in ReneSola by 143.2% during the 3rd quarter. Deutsche Bank AG now owns 9,000 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 5,300 shares in the last quarter. Raymond James & Associates increased its stake in ReneSola by 33.8% during the 1st quarter. Raymond James & Associates now owns 23,289 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 5,885 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in ReneSola by 61.7% during the 1st quarter. GSA Capital Partners LLP now owns 20,479 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 7,813 shares in the last quarter. Institutional investors own 39.19% of the company’s stock.

ReneSola Company Profile (Get Rating)

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects in the United States and Europe. It operates through three segments: Solar Power Project Development, EPC Services, and Electricity Generation Revenue. The company also develops community solar gardens; and sells projects rights.

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