ReneSola Ltd. (NYSE:SOL) Given Average Recommendation of “Hold” by Brokerages

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ReneSola Ltd. (NYSE:SOL) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Brokers have set a twelve-month consensus target price of $1.30 for the company and are predicting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also given ReneSola an industry rank of 53 out of 256 based on the ratings given to related companies.

Several brokerages have recently weighed in on SOL. Zacks Investment Research cut Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Imperial Capital began coverage on SUNDANCE ENERGY/S in a research report on Thursday, May 2nd. They set an “outperform” rating and a $6.00 target price for the company. Finally, Roth Capital restated a “neutral” rating on shares of ReneSola in a research report on Thursday, June 27th.

Shares of NYSE SOL traded down $0.04 during mid-day trading on Friday, hitting $1.25. The company had a trading volume of 22,552 shares, compared to its average volume of 22,029. The firm has a market capitalization of $49.15 million, a P/E ratio of 125.00 and a beta of 1.98. ReneSola has a 1 year low of $1.15 and a 1 year high of $2.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day simple moving average is $1.29.

ReneSola (NYSE:SOL) last announced its quarterly earnings results on Thursday, June 27th. The semiconductor company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). The firm had revenue of $13.06 million during the quarter, compared to the consensus estimate of $8.70 million. As a group, research analysts forecast that ReneSola will post 0.06 earnings per share for the current year.

ReneSola Company Profile

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: solar power project development, EPC services, and electricity revenue generation. The company also develops community solar gardens; and sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components, and construction contracting and management services.

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