Zacks: Hanwha SolarOne Co. (NASDAQ:HQCL) Given Consensus Recommendation of “Hold” by Brokerages
Hanwha SolarOne Co. (NASDAQ:HQCL) has been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation. Hanwha SolarOne’s rating score has declined by 200% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a 1-year consensus target price of $13.00 for the company and are forecasting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Hanwha SolarOne an industry rank of 177 out of 265 based on the ratings given to its competitors.
HQCL has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Hanwha SolarOne from a “sell” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, May 24th. Roth Capital lowered shares of Hanwha SolarOne from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th.
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Shares of Hanwha SolarOne (NASDAQ:HQCL) traded down 0.47% during mid-day trading on Tuesday, reaching $10.55. 11,464 shares of the company were exchanged. Hanwha SolarOne has a 12 month low of $9.50 and a 12 month high of $28.87. The firm has a 50-day moving average price of $12.38 and a 200 day moving average price of $13.46. The stock has a market capitalization of $877.57 million, a P/E ratio of 4.80 and a beta of 2.47.
Hanwha SolarOne (NASDAQ:HQCL) last issued its earnings results on Tuesday, August 23rd. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.44. Hanwha SolarOne had a net margin of 8.03% and a return on equity of 42.12%. The business had revenue of $638 million for the quarter, compared to analyst estimates of $646 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm’s revenue was up 88.8% on a year-over-year basis. Equities research analysts anticipate that Hanwha SolarOne will post $1.67 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in HQCL. Oxford Asset Management purchased a new position in Hanwha SolarOne during the second quarter worth approximately $392,000. Guggenheim Capital LLC raised its position in Hanwha SolarOne by 27.8% in the second quarter. Guggenheim Capital LLC now owns 493,596 shares of the company’s stock worth $7,108,000 after buying an additional 107,408 shares during the period. Walleye Trading LLC raised its position in Hanwha SolarOne by 1,166.7% in the second quarter. Walleye Trading LLC now owns 7,600 shares of the company’s stock worth $109,000 after buying an additional 7,000 shares during the period. AJO LP purchased a new position in Hanwha SolarOne during the second quarter worth approximately $171,000. Finally, Barclays PLC purchased a new position in Hanwha SolarOne during the first quarter worth approximately $432,000. Hedge funds and other institutional investors own 1.59% of the company’s stock.
About Hanwha SolarOne
Hanwha Q CELLS Co, Ltd., formerly Hanwha SolarOne Co, Ltd., is a global solar energy company engaged in the manufacturing of solar modules, and the development and management of downstream solar farms. It manufactures a range of photo voltaic (PV) cells and PV modules at its manufacturing facilities in China and Malaysia using manufacturing process technologies, including those developed at its research and development facilities in Germany.
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