JA Solar Profits Pop on China Sales

JA Solar Holdings Co. Ltd. JASO reported second-quarter 2015 results before markets opened Tuesday. The China-based solar panel maker reported adjusted diluted earnings per American depositary share (ADS) of $0.27 on revenues of $436.8 million U.S. In the second quarter of 2014, the company reported earnings per ADS of $0.14 on revenue of $390.48 million U.S.

Second-quarter results also compare to the Thomson Reuters consensus estimates for earnings per ADS of $0.12 and $398.65 million U.S. in revenue. One ADS represents five ordinary shares of JA Solar stock.

For the third quarter of 2015, JA Solar expects total cell and module shipments to range between 900 to 950 megawatts. The company shipped 790.8 megawatts in the second quarter and 681.5 megawatts in the first quarter of 2015.

Shares traded up 17 cents, or 2.2% early Tuesday, at $8.01 U.S. in a 52-week range of $6.67 U.S. to $10.80 U.S. Thomson Reuters had a consensus analyst price target of $11.83 U.S. before the results were announced. The high price target is $19.00 U.S.