-$0.06 Earnings Per Share Expected for ReneSola Ltd (NYSE:SOL) This Quarter

Analysts forecast that ReneSola Ltd (NYSE:SOL – Get Rating) will announce earnings per share (EPS) of ($0.06) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ReneSola’s earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.06). ReneSola posted earnings of $0.05 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 220%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that ReneSola will report full-year earnings of $0.11 per share for the current year, with EPS estimates ranging from $0.09 to $0.13. For the next financial year, analysts expect that the business will report earnings of $0.23 per share, with EPS estimates ranging from $0.19 to $0.27. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for ReneSola.

ReneSola (NYSE:SOL – Get Rating) last announced its earnings results on Wednesday, March 23rd. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.09). ReneSola had a net margin of 8.61% and a return on equity of 2.67%. During the same period in the previous year, the business earned $0.18 EPS.

Several equities research analysts have recently issued reports on SOL shares. Roth Capital raised ReneSola from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.70 to $10.00 in a research report on Wednesday, January 5th. StockNews.com upgraded ReneSola to a “sell” rating in a research note on Wednesday, April 20th. Raymond James upgraded ReneSola from an “outperform” rating to a “strong-buy” rating and set a $12.50 price target for the company in a research note on Tuesday, January 4th. Zacks Investment Research upgraded ReneSola from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, March 2nd. Finally, HC Wainwright cut their price target on ReneSola from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $10.38.

Shares of ReneSola stock opened at $4.82 on Thursday. ReneSola has a 1 year low of $4.53 and a 1 year high of $10.70. The firm has a market cap of $336.20 million, a PE ratio of 48.20 and a beta of 2.28. The stock has a fifty day moving average price of $5.83 and a 200-day moving average price of $6.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.39 and a quick ratio of 9.66.

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG boosted its stake in ReneSola by 143.2% in the 3rd quarter. Deutsche Bank AG now owns 9,000 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 5,300 shares during the period. Goldman Sachs Group Inc. bought a new position in ReneSola in the 3rd quarter worth about $96,000. Cetera Advisors LLC boosted its position in shares of 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 acquiring an additional 1,310 shares during the last quarter. Raymond James & Associates bought a new stake in shares of ReneSola during the 3rd quarter valued at about $108,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of ReneSola during the 3rd quarter valued at about $114,000. Institutional investors and hedge funds own 35.33% 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.

Recommended Stories