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

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Shares of ReneSola Ltd. (NYSE:SOL) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Analysts have set a 12-month consensus target price of $1.30 for the company and are anticipating that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 68 out of 256 based on the ratings given to related companies.

SOL has been the topic of several recent research reports. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Roth Capital reaffirmed a “neutral” rating on shares of ReneSola in a report on Thursday, June 27th. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday. Finally, Imperial Capital initiated coverage on SUNDANCE ENERGY/S in a report on Thursday, May 2nd. They set an “outperform” rating and a $6.00 price objective on the stock.

SOL stock remained flat at $$1.18 during midday trading on Friday. The company’s stock had a trading volume of 16,672 shares, compared to its average volume of 29,346. ReneSola has a 1-year low of $1.15 and a 1-year high of $2.54. 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 company has a market capitalization of $44.96 million, a P/E ratio of 118.00 and a beta of 1.98. The firm’s 50 day simple moving average is $1.28.

ReneSola (NYSE:SOL) last posted 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 business had revenue of $13.06 million during the quarter, compared to analyst estimates of $8.70 million. Research analysts anticipate that ReneSola will post 0.06 earnings per share for the current fiscal year.

About ReneSola

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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