MEMC Electronic Materials Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component MEMC Electronic Materials, Inc. (NYSE:WFR) will unveil its latest earnings on Wednesday, November 2, 2011. Memc Electronic Material manufactures and sells silicon wafers that are used primarily in semiconductor and solar energy technologies.

MEMC Electronic Materials, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 12 cents per share, a rise of 20% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 32 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 15 cents during the last month. Analysts are projecting profit to rise by 115.4% versus last year to 84 cents.

Past Earnings Performance: Last quarter, the company topped expectations by 22 cents, coming in at profit of 29 cents per share versus a mean estimate of net income of 7 cents per share. This followed two straight quarters of missing estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 58.1% in revenue from the year-earlier quarter to $795.6 million.

Analyst Ratings: Analysts seem relatively indifferent about MEMC Electronic Materials with 11 of 19 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose more than threefold to $47.3 million (21 cents a share) from $13.8 million (6 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 66.3% to $745.6 million from $448.3 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 83.8%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.

Competitors to Watch: Daqo New Energy Corp. (NYSE:DQ), AXT, Inc. (NASDAQ:AXTI), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWRA), Spansion Inc. (NYSE:CODE), Micron Technology, Inc. (NASDAQ:MU), GT Solar Intl., Inc. (NASDAQ:SOLR), Hoku Corporation (NASDAQ:HOKU), Cymer, Inc. (NASDAQ:CYMI), and Photronics, Inc. (NASDAQ:PLAB).

Stock Price Performance: During September 29, 2011 to October 27, 2011, the stock price had risen $1.36 (25.3%) from $5.37 to $6.73. The stock price saw one of its best stretches over the last year between December 27, 2010 and January 5, 2011 when shares rose for eight-straight days, rising 3.8% (+42 cents) over that span. It saw one of its worst periods between July 25, 2011 and August 8, 2011 when shares fell for 11-straight days, falling 39.3% (-$3.23) over that span. Shares are down $4.53 (-40.2%) year to date.

(Source: Xignite Financials)

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