Emeren Group (NYSE:SOL – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.430-0.430 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of $150.0 million-$160.0 million, compared to the consensus revenue estimate of $147.6 million. Emeren Group also updated its Q2 2024 guidance to EPS.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. HC Wainwright reissued a buy rating and set a $7.00 price objective on shares of Emeren Group in a report on Friday. StockNews.com upgraded Emeren Group to a sell rating in a report on Friday. Northland Securities lowered shares of Emeren Group from a market perform rating to an under perform rating and set a $1.50 price target on the stock. in a research report on Friday. Finally, Northland Capmk downgraded shares of Emeren Group from a hold rating to a strong sell rating in a report on Friday. Three analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $5.38.
Read Our Latest Research Report on Emeren Group
Emeren Group Stock Performance
Emeren Group (NYSE:SOL – Get Free Report) last announced its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $44.00 million during the quarter, compared to analyst estimates of $39.22 million. Emeren Group had a negative return on equity of 0.88% and a negative net margin of 12.70%. On average, equities analysts forecast that Emeren Group will post 0.3 earnings per share for the current year.
About Emeren Group
Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.
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