3. Harbin Electric (HRBN) designs, develops, and manufactures linear motors and special electric motors. The company also builds customized linear motors for a variety of applications and industries in China and for global original equipment manufacturers. The company will release its fourth quarter results on Mar. 16.
For fourth quarter 2010, sales are expected at $110 million as compared to $107.2 million during the same period in 2009, based on consensus estimates of analysts polled by Bloomberg. Net income for 2010 is forecast at $83.05 million, or $2.65, compared to $43.81 million, or 77 cents, in 2009. For 2011, earnings per share are likely to surge by 11% to $2.95.
All the five analysts covering the stock rate a buy on the stock. Analysts polled by Bloomberg expect the stock to gain almost 32.6% to $24.7 from current levels over the next 12 months.