Suntech Power and LDK Solar Earnings Shed Light on Solar Stocks

Suntech Power Holdings Co. Ltd. (NYSE:STP): Suntech Power is rebounding slightly after a fall 2 weeks ago  following the preannouncement of the company’s bleak Q3 results. Revenue of $809.8M (+9% Y/Y) beat by $32.9M, but EPS of -$0.64 missed by $0.38. Also, Suntech predicts Q4 solar shipments will drop 20% Q/Q from Q3 levels, and its gross margin for the quarter will come in at 9%-11%, below Q3’s 13.3%. STP shares recently traded at $2.34, up $0.11, or 4.93%. Its market capitalization is $421.79 million. They have traded in a 52-week range of $1.70 to $10.83. Volume today was 660,960 shares versus a 3-month average volume of 4,497,850 shares. The company’s trailing P/E is 2.62, while trailing earnings are $0.89 per share. Get the most recent company news and stock data here >>

LDK Solar Co., Ltd. (NYSE:LDK): LDK Solar suffered a Q3 net loss of $114.5M, compared with a profit of $93.4M a year earlier. Results show a depreciation of $47.3M on inventory due to decreased demand, and the cost of wafers and modules. Estimates Q4 revenue of $440M-$520M vs. analyst estimates of $535.9M. LDK shares recently traded at $2.75, down $0.08, or 2.83%. Its market capitalization is $389.03 million. They have traded in a 52-week range of $2.55 to $14.97. Volume today was 485,703 shares versus a 3-month average volume of 2,539,210 shares. The company’s trailing P/E is 1.32, while trailing earnings are $2.09 per share. Get the most recent company news and stock data here >>

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