Sunedison Earns Outperform Rating from Analysts at FBR Capital Markets (SUNE)
Analysts at FBR Capital Markets initiated coverage on shares of Sunedison (NASDAQ:SUNE) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $28.00 price target on the stock. FBR Capital Markets’ target price would indicate a potential upside of 24.39% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company initiated coverage on shares of Sunedison in a research note on Tuesday, August 12th. They set a “market perform” rating and a $20.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday, August 12th. They set a “buy” rating and a $21.65 price target on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Sunedison in a research note on Monday, August 11th. They now have a $19.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.20.
Shares of Sunedison (NASDAQ:SUNE) opened at 22.51 on Tuesday. Sunedison has a 1-year low of $7.08 and a 1-year high of $24.35. The stock has a 50-day moving average of $21.75 and a 200-day moving average of $19.82. The company’s market cap is $6.053 billion.
Sunedison (NASDAQ:SUNE) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) 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 $-0.59 EPS for the current fiscal year.
In other Sunedison news, SVP David A. Ranhoff unloaded 14,742 shares of Sunedison stock on the open market in a transaction dated Friday, August 15th. The shares were sold at an average price of $1.76, for a total transaction of $25,945.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
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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