Today, Trina Solar Ltd. (TSL) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Today, Trina Solar Ltd. (TSL) Releases Quarterly  Earnings Results, Beats Expectations By $0.16 EPS
Trina Solar Ltd. (NYSE:TSL) released its earnings results on Wednesday. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.16. Trina Solar had a net margin of 2.51% and a return on equity of 11.34%. The company earned $741.10 million during the quarter. During the same period in the previous year, the firm posted ($0.24) EPS. Trina Solar’s revenue for the quarter was down 6.5% on a year-over-year basis.

Trina Solar (NYSE:TSL) traded down 1.65% on Friday, reaching $10.15. 497,809 shares of the company’s stock were exchanged. Trina Solar has a 12 month low of $6.91 and a 12 month high of $11.35. The firm has a 50-day moving average of $10.36 and a 200-day moving average of $9.42. The firm has a market capitalization of $862.06 million, a price-to-earnings ratio of 11.77 and a beta of 1.23.

TSL has been the subject of several research reports. Roth Capital reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Trina Solar in a report on Thursday, August 25th. Zacks Investment Research lowered shares of Trina Solar from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Credit Suisse Group AG set a $11.60 price target on shares of Trina Solar and gave the company a “hold” rating in a report on Thursday, August 18th. Axiom Securities lowered shares of Trina Solar from a “hold” rating to a “sell” rating in a report on Wednesday, November 16th. Finally, Morgan Stanley set a $11.60 price target on shares of Trina Solar and gave the company a “hold” rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Trina Solar presently has a consensus rating of “Hold” and an average price target of $10.78.

Hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new stake in Trina Solar during the second quarter valued at about $28,427,000. Arrowgrass Capital Partners US LP purchased a new stake in Trina Solar during the third quarter valued at about $13,766,000. Impax Asset Management LTD increased its stake in Trina Solar by 22.1% in the second quarter. Impax Asset Management LTD now owns 4,842,981 shares of the company’s stock valued at $37,487,000 after buying an additional 876,200 shares in the last quarter. Top Ace Asset Management Ltd boosted its position in Trina Solar by 158.6% in the third quarter. Top Ace Asset Management Ltd now owns 1,280,000 shares of the company’s stock valued at $13,107,000 after buying an additional 784,950 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Trina Solar by 5.6% in the second quarter. Franklin Resources Inc. now owns 14,481,797 shares of the company’s stock valued at $112,089,000 after buying an additional 762,930 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Trina Solar Company Profile

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