Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE) announced that it plans to release its unaudited financial results for the third quarter ended September 30, 2016, before the U.S. market opens on Thursday, December 8, 2016.
Based upon preliminary data, the Company estimates that its PV module shipments in the third quarter of 2016 were in the range of 360MW to 370MW, which was within the range announced in the previous guidance. The Company estimates its overall gross margin in the third quarter of 2016 was in the range of 5% to 6%, while the gross margin from the sale of PV modules was in the range of 6% to 7%, which was lower than previous guidance mainly as a result of an inventory provision that is expected to be recorded in the third quarter and an increase in the unit manufacturing cost due to a lower utilization rate of production capacity.
These preliminary, unaudited third quarter results are based on management’s preliminary review of operations for the third quarter of 2016 and remain subject to change based on management’s ongoing review of the third quarter results.
In order to help investor learn more about its unaudited financial results for third quarter 2016, the Company will hold a corresponding conference call and live webcast to discuss the results at 8:00 AM Eastern Standard Time on December 8, 2016, which corresponds to 9:00 PM Beijing/Hong Kong time on the same day. (Original Source)
Shares of Yingli Green Energy are currently trading at $3.30, down $0.11 or -3.23%. YGE has a 1-year high of $8 and a 1-year low of $2.86. The stock’s 50-day moving average is $3.85 and its 200-day moving average is $3.90.
On the ratings front, Yingli Green Energy Holding has been the subject of a number of recent research reports. In a report issued on November 16, Axiom analyst Gordon Johnson downgraded YGE to Sell. Separately, on November 14, Credit Suisse’s Patrick Jobin assigned a Sell rating to the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gordon Johnson and Patrick Jobin have a yearly average loss of 1.8% and 8.6% respectively. Johnson has a success rate of 57% and is ranked #3406 out of 4245 analysts, while Jobin has a success rate of 38% and is ranked #3957.
Yingli Green Energy Holding Co. Ltd. manufactures photovoltaic module. The company manufactures photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. It markets its products under the brand Yingli Solar.