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

Equities analysts expect ReneSola Ltd (NYSE:SOLGet Rating) to report sales of $3.93 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ReneSola’s earnings. The highest sales estimate is $5.00 million and the lowest is $3.40 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 business is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

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

ReneSola (NYSE:SOLGet Rating) last issued its quarterly earnings data 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). ReneSola had a return on equity of 2.67% and a net margin of 8.61%. The business had revenue of $22.82 million for the quarter, compared to analyst estimates of $25.19 million. During the same period in the previous year, the business posted $0.18 earnings per share.

Several research firms have commented on SOL. StockNews.com lowered ReneSola from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research raised ReneSola from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Wednesday, March 2nd. Finally, HC Wainwright dropped their price objective on ReneSola from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $10.38.

Several hedge funds have recently bought and sold shares of SOL. Vident Investment Advisory LLC purchased a new position in ReneSola in the third quarter valued at about $130,000. Raymond James Financial Services Advisors Inc. bought a new position in ReneSola during the 3rd quarter worth approximately $114,000. Raymond James & Associates bought a new stake in shares of ReneSola in the 3rd quarter worth approximately $108,000. MARSHALL WACE ASIA Ltd lifted its holdings in shares of ReneSola by 101.7% in the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 662,804 shares of the semiconductor company’s stock worth $4,355,000 after purchasing an additional 334,156 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of ReneSola by 178.2% in the 3rd quarter. GSA Capital Partners LLP now owns 173,853 shares of the semiconductor company’s stock worth $1,142,000 after purchasing an additional 111,365 shares during the last quarter. Institutional investors and hedge funds own 39.19% of the company’s stock.

Shares of SOL opened at $4.56 on Friday. The stock has a 50-day simple moving average of $5.37 and a 200-day simple moving average of $6.02. The stock has a market capitalization of $306.14 million, a PE ratio of 45.60 and a beta of 2.27. ReneSola has a 1 year low of $3.46 and a 1 year 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.

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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