Zacks Investment Research Upgrades Hanwha Q CELLS Co., Ltd. (HQCL) to Buy

Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $9.50 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.15% from the company’s current price.

According to Zacks, “Hanwha Q CELLS Co., Ltd. is a photovoltaic manufacturer for solar cells and modules. The company offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large scale solar power plants. It operates primarily in Europe, North America, Asia, South America, Africa and the Middle East. Hanwha Q CELLS Co. Ltd., formerly known as Hanwha SolarOne Co. Ltd., is headquartered in Seoul, South Korea. “

A number of other analysts have also recently weighed in on the stock. BidaskClub raised shares of Hanwha Q CELLS Co. from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Axiom Securities reissued a “sell” rating on shares of Hanwha Q CELLS Co. in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Hanwha Q CELLS Co. currently has an average rating of “Hold” and a consensus price target of $8.25.

Shares of Hanwha Q CELLS Co. (NASDAQ HQCL) opened at $8.25 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73. Hanwha Q CELLS Co. has a 1-year low of $6.09 and a 1-year high of $9.84. The firm has a market cap of $698.25, a P/E ratio of 46.44 and a beta of 1.99.

Hanwha Q CELLS Co. (NASDAQ:HQCL) last released its quarterly earnings data on Friday, November 10th. The semiconductor company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Hanwha Q CELLS Co. had a net margin of 0.75% and a return on equity of 3.54%. The company had revenue of $543.00 million for the quarter, compared to analysts’ expectations of $564.60 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was down 23.3% on a year-over-year basis. sell-side analysts expect that Hanwha Q CELLS Co. will post 0.57 EPS for the current year.

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Hanwha Q CELLS Co. Company Profile

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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