Sunedison Coverage Initiated at Goldman Sachs (SUNE)
Sunedison (NASDAQ:SUNE) traded down 3.83% during mid-day trading on Tuesday, hitting $20.82. The stock had a trading volume of 11,236,216 shares. 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 $21.91 and its 200-day moving average is $19.22. The company’s market cap is $5.598 billion.
Sunedison (NASDAQ:SUNE) last announced its earnings results on Thursday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.28) by $0.40. The company had revenue of $557.50 million for the quarter, compared to the consensus estimate of $571.80 million. During the same quarter last year, the company posted ($0.19) earnings per share. Sunedison’s revenue was up 13.4% compared to the same quarter last year. Analysts expect that Sunedison will post $-0.46 EPS for the current fiscal year.
SUNE has been the subject of a number of other recent research reports. Analysts at Zacks reiterated an “underperform” rating on shares of Sunedison in a research note on Monday. They now have a $19.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Sunedison from $20.00 to $24.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $24.22.
SunEdison Inc, formerly MEMC Electronic Materials, Inc, incorporated on October 1, 1984, is engaged in the development, manufacture and sale of silicon wafers.
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