Sky Solar Holdings Ltd (NASDAQ:SKYS) Receives Average Rating of “Strong Buy” from Brokerages

Sky Solar Holdings Ltd (NASDAQ:SKYS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price target of $11.50 for the company and are expecting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also assigned Sky Solar Holdings an industry rank of 149 out of 265 based on the ratings given to its competitors.

SKYS has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on Sky Solar Holdings in a report on Tuesday, September 8th. They set an “outperform” rating and a $13.00 price target on the stock. Roth Capital reiterated a “buy” rating and set a $12.00 price target on shares of Sky Solar Holdings in a report on Monday, September 21st. Finally, Zacks Investment Research downgraded Sky Solar Holdings from a “hold” rating to a “sell” rating in a report on Monday, November 30th.

Shares of Sky Solar Holdings (NASDAQ:SKYS) opened at 7.45 on Monday. The stock has a 50 day moving average price of $6.62 and a 200-day moving average price of $7.21. The firm’s market cap is $271.69 million. Sky Solar Holdings has a 1-year low of $4.29 and a 1-year high of $12.95.

Sky Solar Holdings (NASDAQ:SKYS) last issued its quarterly earnings results on Tuesday, November 24th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.12. The firm earned $12.10 million during the quarter, compared to analyst estimates of $14.15 million. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Sky Solar Holdings will post $0.12 earnings per share for the current fiscal year.

12 Month Chart for NASDAQ:SKYS

Sky Solar Holdings, Ltd. (NASDAQ:SKYS) is an investment holding company. The Company is an independent power producer (IPP) engaged in developing, owning and operating solar parks. The Company’s subsidiaries are engaged in selling electricity, Pipeline plus EPC, Provision of O&M services, and BT. Its subsidiaries are engaged in selling electricity generated from solar parks owned by the Company as an IPP. The Pipeline plus EPC includes pipeline activities, which include obtaining permits required for solar power projects and sourcing of solar modules, and providing engineering, construction and procurement services. Under Provision of O&M services, the Company’s subsidiaries provide operating and maintenance services for solar parks. Under BT, the Company’s subsidiaries are engaged in selling of solar modules, and building and transfer of solar parks.

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