We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ReneSola (SOL) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
ReneSola (SOL - Free Report) closed the most recent trading day at $23.63, moving +1.9% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 1.57%, and the Nasdaq, a tech-heavy index, added 1.56%.
Wall Street will be looking for positivity from SOL as it approaches its next earnings report date. In that report, analysts expect SOL to post earnings of -$0.01 per share. This would mark a year-over-year decline of 111.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.56 million, down 7.44% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SOL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SOL is currently a Zacks Rank #2 (Buy).
Looking at its valuation, SOL is holding a Forward P/E ratio of 66.77. Its industry sports an average Forward P/E of 62.92, so we one might conclude that SOL is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ReneSola (SOL) Outpaces Stock Market Gains: What You Should Know
ReneSola (SOL - Free Report) closed the most recent trading day at $23.63, moving +1.9% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 1.57%, and the Nasdaq, a tech-heavy index, added 1.56%.
Wall Street will be looking for positivity from SOL as it approaches its next earnings report date. In that report, analysts expect SOL to post earnings of -$0.01 per share. This would mark a year-over-year decline of 111.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.56 million, down 7.44% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SOL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SOL is currently a Zacks Rank #2 (Buy).
Looking at its valuation, SOL is holding a Forward P/E ratio of 66.77. Its industry sports an average Forward P/E of 62.92, so we one might conclude that SOL is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.