Dallas, Texas 05/21/2014 (FINANCIALSTRENDS) – Trina Solar Limited (ADR) (NYSE:TSL) is scheduled to release its 1Q14 earnings today on May 21, 2014 at 08:00 a.m. EDT, before the opening bell. One of the strong contender of late 2013 rallies in Chinese solar stock has repeatedly fallen short of analysts’ per share profit anticipations in at least five of the last eight reported quarters. Now, the company, along with 20 top suppliers of solar photovoltaic modules, is projecting over 30% growth in FY14 shipment, reports Investor’s Business Daily, citing a statement from NPD Solarbuzz.NPD Solar buzz analyst, Ray Lian stated that the 20 top solar module suppliers account for more than 65% of global shipments.
The other solar giants favoring 30% plus growth outlook include Canadian Solar Inc. (NASDAQ:CSIQ) and JinkoSolar Holding Co., Ltd. (NYSE:JKS), with upper end of their shipment projections exceeding 40%. Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) stands above all the solar majors with the highest shipment volume projections for 2014.
Analyst Expectations about 1Q14 Earnings:
Trina Solar Limited (ADR) (NYSE:TSL) will report its 1Q14 earnings today and the analysts on an average are expecting earnings of $0.03 per share, excluding items. This expectation marks significant upswing as the Chinese solar giant posted loss of $0.90 per share in the same prior year quarter. The analysts, on an average, are expecting 1Q14 revenue of $452.5 million, up 74% from the same prior year quarter. If the company succeeds to deliver results at par with consensus estimates, it will mark fourth consecutive quarter for the company of double digit gains.
Stock Update:
The stock of Trina Solar Limited (ADR) (NYSE:TSL), on Tuesday, closed at $10.36, losing 2.81% from its previous close. Yesterday, the stock traded with somewhat higher volumes of 4.69 million shares against its 30 day average volume of 4.61 million shares. At its previous close, the stock is trading approximately 23.4% below its 200 day simple moving average and 20% below its 50 day simple moving average.
