ReneSola ( SOL)

China-based ReneSola is a leading global manufacturer of solar wafers and solar power products.

For 2010 second quarter, the company reported a gross profit margin of 30.2%, compared with 17.1% during the first quarter. Meanwhile, revenue increased 22.9% from the first quarter. "Strong market demand coupled with our cost-efficient structure should place ReneSola in a position to increase profitability in the coming quarters," said Xianshou Li, ReneSola's CEO, in a press release.

ReneSola is anticipated to report earnings of 70 cents per share for 2010 and 96 cents per share for 2011, according to analysts polled by Bloomberg, a significant turnaround from losses of 42 cents per share in 2008 and 43 cents per share in 2009.

Of the 10 analysts covering the stock, six have buy recommendations, two have hold recommendations and two have sell recommendations. Over the past one year, the stock's growth was a stellar 236%, while peers returned only 66.1%.

The stock is trading at an attractive forward P/E of 7.5. In comparison, Kyocera ( KYO) has a P/E of 13.9, MEMC Electronic Materials ( WFR) has a P/E of 29.7 and Suntech Power Holdings ( STP) has a P/E of 12.1.

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