China Sunergy (CSUN) is up about 10% this morning, adding to yesterday’s strong move above resistance. The company beat analyst estimates by a wide margin and got back in the black by reporting a non GAAP EPS of .16/share on revenues of $104.3 million. I’ll have to check on this when I have more time, but I believe that’s a record quarterly profit number for CSUN. Analysts expected just .10/share on revenues of $91.55. In … Read the rest
Category Archives: Solar Energy
MEMC Electronic Materials (WFR) Reports Strong Revenues, But Surprising Loss; Reaffirms Guidance; Shares Down 7%
MEMC Electronic Materials (WFR) is surprising traders after the bell today, but not in the way many expected. With the technical action improving in WFR in recent weeks, they were expected to post a quarterly profit and begin the road to lasting profits. That path remains on hold for now. While the company reported revenues much higher than what analysts expected at $438 million (more than double the year ago quarter), they missed badly on … Read the rest
Analyst Reactions To First Solar (FSLR) Earnings
Lots of analyst reaction to First Solar (FSLR) earnings last night. Here’s the run down with a hat tip to Street Insider for the analyst commentary.
Buy Ratings
Brigantine Advisors reiterates its Buy rating and raises the price target from $144 to $150.
“Investor sentiment in the solar sector has been weak for much of this year, and we think the strong report from First Solar will go a long way to allay most concerns. … Read the rest
Akeena Solar (AKNS) Disappoints Again, Profitability Nowhere In Sight
You kind of expected that with Akeena Solar (AKNS) solar product being sold in Lowe’s stores, that might give the company a boost and get them closer to profitability, but it hasn’t helped much at all up to this point. This is a company that continues to flounder and profitability still appears a long ways off. The company reported an EPS loss of .09/share which was a cent worse than what analysts expected and about … Read the rest
Deutsche Bank Bullish On First Solar (FSLR) & Itron (ITRI) With Buy Ratings
Deutsche Bank is out with Buy ratings this morning after First Solar (FSLR) and Itron (ITRI) reported strong earnings results last night.
They have upgraded First Solar (FSLR) to Buy and raised the price target from $125 to $155. “The company has demonstrated great flexibility with its business, and has built a captive project pipeline that can insulate the company should individual markets wither, or module ASPs come under great pressure.”
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Analysts On First Solar (FSLR) – Winners & Losers
I thought I’d go back and issue a winners and losers report for the analyst calls heading into earnings on First Solar. Soleil stands alone in its own “Lacking Balls” category.
Winners
Kudos to Kaufman Bros for the good call back in March when they called First Solar “the preeminent stock in the solar space” which should represent a “core holding for investors.” They reinstated the Buy rating and slapped a $140 price target on … Read the rest
First Solar (FSLR) Smashes Estimates, Raises Guidance, Up 7% AH
First Solar (FSLR) is a company that many like to bash and bet against, but the company continues to deliver and they did so again after the bell today, keeping their long history of quarter over quarter growth alive (just barely). The company smashed the analyst estimate of $1.65/share by posting $2.00/share which also beats the whisper number of $1.87. That $2.00 EPS is about what they reported a year ago, so quarter over … Read the rest
First Solar (FSLR) Expands Utility Scale Exposure With NextLight Purchase
First Solar (FSLR) has announced that it’s entered into a definitive agreement to purchase NextLight Renewable Power which expands its utility scale solar presence in the southwest, by adding a 1100MW solar power project pipeline. 570MW of that is under signed purchase power agreements which bring FSLR’s contracted solar power pipeline to 2200MW while 530MW is in various stages of development. The $285 million all cash deal is expected to be completed in the 3rd … Read the rest
FPL Group (FPL) Beats On EPS, Light In Revenue; Reaffirms Guidance
FPL Group (FPL) reported results that were about flat over the year ago quarter. They beat on the EPS side by .07, reporting .94/share, but revenues were a bit lighter than what analysts expected at $3.58 billion. All in all, a ho hum quarter and traders are selling the stock a bit today after the stock ran up over 10% in the past two months. Increased demand for electricity at Florida Power & Light due … Read the rest
SunEdison (WFR) To Develop Up To 3 MW For The Remington Group
MEMC Electronic Materials’ SunEdison just announced that it has been selected to develop and construct as many as 14 rooftop solar PV systems for The Remington Group in Ontario, Canada. The systems, with an expected total capacity of up to 3 MW, will be build on top of Remington facilities and the power produced will be purchased by the Ontario Power Authority.
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In a press … Read the rest