Trina Solar Ltd. (TSL) Announces Quarterly Earnings Results, Beats Expectations By $0.16 EPS
Trina Solar Ltd. (NYSE:TSL) issued its earnings results on Wednesday. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 business earned $741.10 million during the quarter, compared to the consensus estimate of $824.87 million. During the same period last year, the business posted ($0.24) EPS.
Shares of Trina Solar (NYSE:TSL) opened at 10.31 on Wednesday. Trina Solar has a 52-week low of $6.91 and a 52-week high of $11.35. The stock has a 50 day moving average of $10.35 and a 200-day moving average of $9.41. The firm has a market capitalization of $875.65 million, a P/E ratio of 11.96 and a beta of 1.23.
TSL has been the subject of several recent analyst reports. Axiom Securities upgraded shares of Trina Solar from a “sell” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, October 6th. Zacks Investment Research downgraded shares of Trina Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. Credit Suisse Group AG reiterated a “hold” rating and issued a $11.60 target price on shares of Trina Solar in a research note on Wednesday, August 24th. Roth Capital restated a “neutral” rating and set a $10.00 price objective on shares of Trina Solar in a research report on Thursday, August 25th. Finally, Morgan Stanley set a $11.60 price objective on shares of Trina Solar and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Trina Solar has an average rating of “Hold” and an average price target of $11.39.
Large investors have recently bought and sold shares of the company. Jane Street Group LLC increased its stake in 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 last quarter. Northern Trust Corp increased its stake in Trina Solar by 9.8% in the third quarter. Northern Trust Corp now owns 14,310 shares of the company’s stock valued at $147,000 after buying an additional 1,279 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Trina Solar during the second quarter valued at approximately $989,000. Guggenheim Capital LLC increased its stake in 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 last quarter. Finally, Van ECK Associates Corp increased its stake in Trina Solar by 5.0% in the second quarter. Van ECK Associates Corp now owns 175,465 shares of the company’s stock valued at $1,358,000 after buying an additional 8,409 shares during the last quarter. 61.60% of the stock is owned by institutional investors.
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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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