Yingli Green Energy Holding Co. Ltd. (YGE) shares are up nearly 22% to $5.29 in pre-market trading Tuesday after the company reported its 2016 first-quarter earnings results that exceeded Wall Street’s expectations.
The Chinese solar manufacturer posted earnings of $0.60 per share on revenues of $364.6 million. Analysts were expecting EPS of ($0.06) on revenues of $353.99 million. Net income in Q1 2016 came in at $12.3 million, turning into positive for the first time since Q3 2011.
“Despite the challenges we face, we have achieved a remarkable improvement in our financial performance in the first quarter of 2016,” Yingli’s founder and Chairman Liansheng Mia said in a statement. “We endeavor to make every effort to keep such momentum and maintain a healthy operation.”
Share Performance
In pre-market trading, Yingli Green Energy Holding’s shares are up $0.90 to $5.28 following the good earnings report. We could see the name expand those gains in trading today.
Valuation
Yingli Green Energy Holding Co. Ltd. ADR shares, which currently have an average 3-month trading volume of 162K shares, trade with a P/E to growth ratio of 0.02. The median Wall Street price target on ticker is $4.05 with a high target of $5.00. Currently the name boasts no ‘Buy’ endorsements, compared to 2 ‘Holds’ and 2 ‘Sell’.
Profitability-wise, YGE has a t-12 profit and operating margin of (56.2%) and (15.97%), respectively. The $77.25 million market cap company reported $53.1 million in restricted cash vs. $52.7 million as of December 31, 2015.
YGE stock currently prints a one year loss of about 66% and a year-to-date loss of 6.18%.
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