Sunedison Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:SUNE)
Shares of Sunedison (NASDAQ:SUNE) have been given an average recommendation of “Buy” by the twenty ratings firms that are presently covering the stock, StockRatingsNetwork.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.62.
Shares of Sunedison (NASDAQ:SUNE) opened at 19.47 on Wednesday. Sunedison has a 52 week low of $6.24 and a 52 week high of $24.35. The stock’s 50-day moving average is $22.11 and its 200-day moving average is $18.97. The company’s market cap is $5.214 billion.
Sunedison (NASDAQ:SUNE) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. On average, analysts predict that Sunedison will post $-0.63 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SUNE shares. Analysts at Morgan Stanley raised their price target on shares of Sunedison from $24.00 to $28.00 in a research note on Tuesday, July 22nd. They now have an “overweight” rating on the stock. Separately, analysts at Axiom Securities initiated coverage on shares of Sunedison in a research note on Thursday, July 17th. They set a “buy” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Sunedison in a research note on Wednesday, July 2nd. They set a “buy” rating and a $30.00 price target 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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