Sunedison Given Average Recommendation of “Buy” by Analysts (NASDAQ:SUNE)
Shares of Sunedison (NASDAQ:SUNE) have received an average recommendation of “Buy” from the eighteen brokerages that are presently covering the stock, AnalystRatingsNetwork.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.58.
Sunedison (NASDAQ:SUNE) traded up 2.13% on Friday, hitting $22.52. 2,920,184 shares of the company’s stock traded hands. Sunedison has a 1-year low of $6.24 and a 1-year high of $22.65. The stock has a 50-day moving average of $19.38 and a 200-day moving average of $17.04. The company’s market cap is $6.031 billion.
Sunedison (NASDAQ:SUNE) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.17) by $0.08. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $593.88 million. Sunedison’s revenue was up 33.9% compared to the same quarter last year. Analysts expect that Sunedison will post $-0.42 EPS for the current fiscal year.
In other Sunedison news, Director Steven Vincent Tesoriere sold 6,000,000 shares of the stock on the open market in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $19.43, for a total transaction of $116,580,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of Sunedison to $26.00 in a research note on Wednesday. Separately, analysts at Macquarie initiated coverage on shares of Sunedison in a research note on Tuesday. They set an “outperform” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday. They set a “neutral” rating on the stock.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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