Yingli Green Energy Beats Estimates (YGE)

Yingli Green Energy Holding Company YGE released financial results on Friday morning that beat Wall Street estimates. Yingli Green Energy Holding Company announced that its 3rd quarter earnings came in at $68.2 million, or 44 cents per share. Excluding special items, the company reported earnings of 53 cents per share. The company's revenue climbed to $490.9 million. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 36 cents per share, on revenue of $477.31 million. Chairman and CEO Liansheng Miao said, "The demand for our 'Yingli Solar' modules continues to grow rapidly in the global market. Especially, we see robust demand momentum for the Yingli Solar Panda Module as a result of its higher performance compared with traditional modules with P-type cells. As of today, we have entered into sales contracts under which a total of 721 MW of PV modules are expected to be delivered in 2011, and this figure is expected to increase to 1,000 MW by the end of this year." Yingli Green Energy Holding Company (YGE) finished the previous trading day at $10.73 per share. The consensus price target of analysts covering the company's stock is $14.43 per share. Read more from Benzinga's Company news.