Today, ReneSola Ltd. (SOL) to Release Earnings on Tuesday

Today, ReneSola Ltd. (SOL) to Release Earnings on Tuesday
ReneSola Ltd. (NYSE:SOL) is scheduled to announce its Q316 earnings results on Tuesday, November 29th. Analysts expect the company to announce earnings of ($0.17) per share and revenue of $200.90 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

ReneSola (NYSE:SOL) last released its quarterly earnings data on Wednesday, August 24th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The company had revenue of $250 million for the quarter, compared to analyst estimates of $284.39 million. ReneSola had a return on equity of 23.61% and a net margin of 2.26%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, analysts expect ReneSola to post $-0.1700 EPS for the current fiscal year and $-0.4800 EPS for the next fiscal year.

ReneSola Ltd. (NYSE:SOL) opened at 0.7867 on Friday. The firm’s 50-day moving average price is $0.91 and its 200-day moving average price is $1.13. ReneSola Ltd. has a 1-year low of $0.70 and a 1-year high of $1.95. The firm has a market cap of $79.46 million, a price-to-earnings ratio of 3.0142 and a beta of 2.88.

A hedge fund recently raised its stake in ReneSola stock. KCG Holdings Inc. boosted its stake in shares of ReneSola Ltd. (NYSE:SOL) by 164.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,877 shares of the company’s stock after buying an additional 55,897 shares during the period. KCG Holdings Inc. owned 0.09% of ReneSola worth $111,000 at the end of the most recent quarter. 11.56% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on SOL shares. Roth Capital cut ReneSola from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Credit Suisse Group AG reissued an “underperform” rating and set a $1.00 target price on shares of ReneSola in a research note on Monday, November 14th. Zacks Investment Research raised ReneSola from a “sell” rating to a “hold” rating in a research note on Tuesday, October 25th. Finally, TheStreet downgraded ReneSola from a “hold” rating to a “sell” rating in a research note on Wednesday, August 24th.

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