ReneSola Ltd. (SOL) Surges 7% on Earnings Beat

Shares of ReneSola Ltd. (SOL) are up 7.41% to $1.45 in pre-market trading Wednesday after the company reported fourth-quarter earnings of $387 million or ($0.08) per share. Analysts had been modeling $355.08 million and ($0.13) per share.

For full-year 2014, the solar firm said net revenues were $1.56 billion, an increase of 2.8% from $1.52 billion in 2013. Gross profit was $209.3 million with a gross margin of 13.4%. Meawhile, gross profit came in at $51.2 million, compared to gross profit of $57.1 million in Q3’14.

For Q1’15, ReneSola guided revenues of $360-380 million, as compared to analysts’ expectations of $392.30 million. For full year 2015, the company expects its net revs to be in the range of $1.5 billion to $1.6 billion.

On valuation measures, ReneSola Ltd. ADS shares, which currently have an average 3-month trading volume of 908,833 shares, trade at a forward P/E of 45.00 and a P/E to growth ratio of (0.24). The median Wall Street price target on the name is $1.88 with a high target of $2.00. Currently ticker has no ‘Buy’ endorsements, compared to 1 ’Hold’ and 1 ‘Sell’.

Profitability-wise, SOL has a t-12 profit and operating margin of (1.50%) and (0.89%), respectively. The $137.48 million market cap company reported $221.70 million in cash vs. $698.1 million in debt in its most recent quarter.

SOL currently prints a one year loss of about 63.30% and a year-to-date loss of around 4.30%.

ReneSola Ltd. manufactures and sells various solar power products. The company was founded in 2005 and is based in Jiashan, the People’s Republic of China.

Create Content With AI

Try TradingView For Free

Risk Our Money Not Yours | Get 50% Off Any Account

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.