
Hanwha Solarone Co Ltd (NASDAQ:HSOL) has the 5th highest upside potential in this segment of the market. Its upside is 106.0%. Its consensus target price is $2.66 based on the average of all estimates.
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Hanwha Solarone Co Ltd (NASDAQ:HSOL) has the 5th highest upside potential in this segment of the market. Its upside is 106.0%. Its consensus target price is $2.66 based on the average of all estimates.
Hanwha SolarOne Co (NASDAQ: HSOL [FREE Stock Trend Analysis]) reported a wider-than-expected third-quarter loss and lowered its full-year shipment forecast.
Hanwha SolarOne lowered its full-year module shipments forecast to 815 to 835 megawatts, versus 1 gigawatts.
Hanwha SolarOne reported a quarterly net loss of $27.9 million, or $0.33 per American Depository Share (ADS), versus a year-ago profit of $40.2 million, or $0.53 per ADS. Its revenue dropped to $225.4 million. Excluding items, Hanwha SolarOne posted a loss of $0.55 per ADS. However, analysts were expecting a loss of $0.08 per ADS on revenue of $278.8 million.
Hanwha SolarOne shares fell 6.92% to close at $1.21 yesterday.
Read more: http://www.benzinga.com/news/earnings/11/11/2144625/update-hanwha-solarone-swings-to-q3-loss-lowers-full-year-shipment-forec#ixzz1eWIJRkJa
Fenicio Escreveu:Não percebo!! Como pode ter subido assim tanto, depois de ter apresentado resultados tão negativos??![]()
DOW JONES NEWSWIRES
Hanwha SolarOne Co.'s (HSOL) posted a sharply wider fiscal third-quarter loss as shipments declined and the solar panel maker's costs exceeded its sales.
Unlike a handful of its rivals, the company remained mum ahead of its results on the impact it saw from falling solar panel prices and sluggish demand in Europe, the world's largest market for solar products.
Tuesday, the company said its most recent results reflected the challenging conditions facing the solar industry as a whole.
"We did not experience the pick-up in German demand to the extent that we had anticipated and this impacted our ability to expand shipment volumes. Overcapacity, which continues to exist, coupled with soft demand, led to further pricing pressures," said Chief Executive Ki-Joon Hong.
For the third quarter, Hanwha's shipments fell 10% from a year earlier to 200.9 megawatts. The decrease was due primarily to softer than anticipated demand in Europe, and credit-constrained solar project development around the world.
Hanwha reported a loss of RMB177.6 million ($27.9 million), or RMB2.11 (33 cents) an American depositary share, compared with a loss of RMB25.2 million, or RMB0.43 an ADS, a year earlier. On an adjusted basis, the company posted a loss of RMB3.51 (55 cents), compared with a year-earlier profit of RMB4.62.
Revenue slumped 34% to RMB1.44 billion ($225.4 million). Analysts polled by Thomson Reuters expected a loss of 8 cents a share on revenue of $279 million.
Gross margin slid to negative 10.8% from positive 24% a year earlier, reflecting the steep decline in selling prices and the inventory writedown.
South Korea's Hanwha Chemical Corp. (009830.SE) earlier this year bought the company, formerly known as Solarfun Power Holdings Co., and changed its name.
American depositary shares closed Monday at $1.21 and were inactive premarket. Shares have slumped 85% this year amid a broader downturn in solar-industry stocks.