Trina Solar Ltd. (TSL) Set to Announce Earnings on Wednesday
Trina Solar Ltd. (NYSE:TSL) will release its Q316 earnings data on Wednesday, November 23rd. Analysts expect Trina Solar to post earnings of $0.11 per share and revenue of $824.87 million for the quarter.
Trina Solar (NYSE:TSL) last issued its earnings results on Tuesday, August 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.11. Trina Solar had a net margin of 2.51% and a return on equity of 11.34%. The company had revenue of $961.60 million for the quarter, compared to analysts’ expectations of $866.56 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. On average, analysts expect Trina Solar to post $0.85 EPS for the current fiscal year and $0.38 EPS for the next fiscal year.
Trina Solar Ltd. (NYSE:TSL) opened at 10.33 on Monday. The company has a market capitalization of $877.35 million, a PE ratio of 11.98 and a beta of 1.23. Trina Solar Ltd. has a one year low of $6.91 and a one year high of $11.35. The firm’s 50-day moving average is $10.36 and its 200 day moving average is $9.37.
A number of research analysts have weighed in on TSL shares. Axiom Securities upgraded Trina Solar from a “sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Thursday, October 6th. Zacks Investment Research upgraded Trina Solar from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Credit Suisse Group AG restated a “hold” rating and issued a $11.60 price objective on shares of Trina Solar in a report on Wednesday, August 24th. Morgan Stanley set a $11.60 price objective on Trina Solar and gave the company a “hold” rating in a report on Wednesday, August 3rd. Finally, Roth Capital restated a “neutral” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Trina Solar in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $11.39.
Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its stake in shares of 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 period. Guggenheim Capital LLC raised its stake in shares of Trina Solar by 23.4% in the second quarter. Guggenheim Capital LLC now owns 1,626,682 shares of the company’s stock valued at $12,591,000 after buying an additional 307,982 shares during the period. Contrarian Capital Management L.L.C. bought a new stake in shares of Trina Solar during the second quarter valued at about $1,858,000. Toronto Dominion Bank bought a new stake in shares of Trina Solar during the second quarter valued at about $989,000. Finally, Jane Street Group LLC raised its stake in shares of Trina Solar by 7,398.5% in the third quarter. Jane Street Group LLC now owns 28,756 shares of the company’s stock valued at $294,000 after buying an additional 29,150 shares during the period. Hedge funds and other institutional investors own 59.50% of the company’s stock.
About Trina Solar
Trina Solar Limited is an integrated solar power products manufacturer and solar system developer based in China with a global distribution network. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production. Its PV modules provide electric power for residential, commercial, industrial and other applications.
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