Sunedison Coverage Initiated by Analysts at Cowen and Company (SUNE)
Cowen and Company started coverage on shares of Sunedison (NASDAQ:SUNE) in a research note issued on Tuesday. The firm set a “market perform” rating and a $20.00 price target on the stock. Cowen and Company’s price target would suggest a potential downside of 7.62% from the company’s current price.
SUNE has been the subject of a number of other recent research reports. Analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday. They set a “buy” rating and a $21.65 price target on the stock. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.22.
Sunedison (NASDAQ:SUNE) traded down 3.83% during mid-day trading on Tuesday, hitting $20.82. 11,233,416 shares of the company’s stock traded hands. Sunedison has a 1-year low of $6.24 and a 1-year 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 issued its quarterly earnings data on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts predict that Sunedison will post $-0.46 earnings per share for the current fiscal year.
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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