Is it time to Buy before this week’s earning report ReneSola (NYSE:SOL)

Earnings results for ReneSola (NYSE:SOL)

Renesola Ltd. is expected* to report earnings on 05/25/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.02. The reported EPS for the same quarter last year was $-0.04.

Analyst Opinion on ReneSola (NYSE:SOL)

2 Wall Street analysts have issued ratings and price targets for ReneSola in the last 12 months. Their average twelve-month price target is $14.75, predicting that the stock has a possible upside of 95.36%. The high price target for SOL is $15.00 and the low price target for SOL is $14.50. There are currently 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”

ReneSola has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $14.75, ReneSola has a forecasted upside of 95.4% from its current price of $7.55. ReneSola has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: ReneSola (NYSE:SOL)

ReneSola does not currently pay a dividend. ReneSola does not have a long track record of dividend growth.

Insiders buying/selling: ReneSola (NYSE:SOL)

In the past three months, ReneSola insiders have not sold or bought any company stock. Only 32.58% of the stock of ReneSola is held by institutions.

Earnings and Valuation of ReneSola (NYSE:SOL

Earnings for ReneSola are expected to grow by 121.43% in the coming year, from $0.14 to $0.31 per share. The P/E ratio of ReneSola is 125.83, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.61. The P/E ratio of ReneSola is 125.83, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 23.25. ReneSola has a P/B Ratio of 2.87. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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