Shares of LDK Solar Co Ltd. (LDK) have plunged more than 18% so far today after posting a wider-than-expected second-quarter loss yesterday.
The company reported loss per share of $2.03, which missed the Zacks Consensus Estimate by a significant margin of $1.12.
Revenues dropped 48.3% to $228.3 million as performance was adversely affected by a continued rapid market price decline for solar wafers.
The company also said that it expects third-quarter revenue between $240 million and $270 million. The guidance was short of Wall Street expectations.
The full-year Zacks Consensus Estimate is currently pegged at a loss of 95 cents per share, which has widened by 67 cents over the past month.
LDK, a Zacks #3 Rank (“Hold”) stock, is trading on unusually heavy volume of approximately 15 million, against the average daily volume of about 4.6 million.
“LDK” Free Stock Analysis: Buy? Sell? Hold?
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