Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Citigroup Inc    C

Delayed Quote. Delayed  - 07/29 07:44:15 pm
43.915 USD   -0.37%
07:15p CITIGROUP : Citi's U.S. economic index posts biggest drop since Feb...
10:52a MTN Set to List Shares on NSE, Names Citigroup, Standard Bank as ..
10:06aDJEDF Profit Falls on Lower Electricity Prices, Deregulation
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Solar-Panel Installer SolarCity Plans To Go Public

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/30/2012 | 07:30pm CEST
   By Cassandra Sweet 
   Of  

California solar-panel installer SolarCity Corp. said Monday that it plans to file for an initial public offering.

The San Mateo, Calif., company said it filed confidential draft registration documents last week with the Securities and Exchange Commission. It was unclear when the company planned to file public registration documents and when it plans to go public.

A SolarCity spokesman declined to provide details beyond a brief prepared statement.

The filing comes at a time of great strain for solar-panel manufacturers, as prices and profits have plunged amid a global oversupply of panels and relatively weak demand.

Investors and solar-panel installers such as SolarCity have fared much better as they've been able to take advantage of federal and state government subsidies, like tax credits, while prices for solar panels and other equipment have cut development costs. However, the bankruptcy last September of California solar-panel maker Solyndra LLC, which spent more than $500 million in federal clean-energy loans, led to political controversy over government support for renewable energy firms, which has created uncertainty about future subsidies.

As the majority of global demand for solar power has relied on government subsidies, which have declined, stock-market investors have viewed solar firms with caution.

California solar-thermal power developer BrightSource Energy Inc. cancelled a planned IPO earlier this month over tepid interest from stock market investors. BrightSource uses a different technology than solar panels.

Signs that the IPO market was turning away from alternative-energy companies emerged in late March, when Enphase Energy Inc. (ENPH), which makes electrical inverters for solar-panel systems, proceeded with its IPO, but had to sell its shares for half their initial target price. Enphase sold nearly 9 million shares for $6 each, down from the company's earlier price range of $10 to $12.

SolarCity equity investors include Draper Fisher Jurvetson, DBL Investors, Generation Investment Management LLP, Silver Lake Kraftwerk and Valor Equity Partners, among others. Elon Musk, founder of Paypal, SpaceX and Tesla Motors Inc. (>> Tesla Motors Inc), where he is chairman and chief executive, also has invested in SolarCity, where he serves as chairman. Musk also has family ties with the solar firm as a cousin of SolarCity co-founders and brothers Lyndon Rive, chief executive, and Peter Rive, chief operational officer and chief technology officer.

SolarCity has raised hundreds of millions of dollars in investment financing for solar-power projects from U.S. Bancorp (USB), Rabobank, Google Inc. (>> Google Inc), Citigroup Inc. (>> Citigroup Inc.) and other investors.

Founded in 2006, SolarCity says it has more than 30,000 solar-power projects completed or under development in Arizona, California, Colorado and other states.

-By Cassandra Sweet, Dow Jones Newswires; 415-439-6468; cassandra.sweet@dowjones.com

Stocks mentioned in the article : Citigroup Inc., Google Inc, Tesla Motors Inc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CITIGROUP INC
07:15p CITIGROUP : Citi's U.S. economic index posts biggest drop since Feb. 2014
10:52a MTN Set to List Shares on NSE, Names Citigroup, Standard Bank as Advisers
10:06aDJEDF Profit Falls on Lower Electricity Prices, Deregulation
07/28 CITIGROUP : Citi to Delist from Tokyo Stock Exchange
07/28 CITIGROUP : Announces Approximately €1.1 Billion Redemption of 4.75% Fixed / Flo..
07/28 SURVEY : Consumers adopting mobile payments, but at a slow pace
07/28 CITI : Issues Offering of EUR 374.2 Million Exchangeable Bonds due 2023, Exchang..
07/28DJPOTASH OF SASKATCHEWAN : Corp. Slashes Dividend, Outlook
07/28DJCENOVUS ENERGY : Records Deep Loss, Despite Operational Improvements
07/28 CITI : Launches Offering of Bonds Due 2023, Exchangeable for Shares of Telekom A..
More news
Sector news : Banks - NEC
04:36pDJBARCLAYS : U.S. Consumer Sentiment Fell in July
04:26pDJBANCO POPULAR ESPANOL : Españ ol Fires Chief Executive
03:17p BARCLAYS : shares jump as transatlantic refocus starts to pay off
02:38pDJICICI BANK : Correction to ICICI Bank Earnings Article
02:21pDJBANCO BILBAO VIZCAYA ARGENTARIA : Spanish Bank BBVA Posts Drop in Profit but Bea..
More sector news : Banks - NEC
News from SeekingAlpha
11:52a Is It Time To Sell Citigroup?
07/28 We're Ready To Tackle The Talend IPO
07/27 Big Verizon Deal Near
07/27 OPPENHEIMER : Bank stock hatred hits new highs
07/26 9 Best Stocks For Value Investors This Week - 7/23/16
Advertisement
Financials ($)
Sales 2016 69 920 M
EBIT 2016 27 464 M
Net income 2016 13 678 M
Debt 2016 -
Yield 2016 0,95%
P/E ratio 2016 9,58
P/E ratio 2017 8,51
Capi. / Sales 2016 1,85x
Capi. / Sales 2017 1,79x
Capitalization 129 372 M
More Financials
Chart CITIGROUP INC
Duration : Period :
Citigroup Inc Technical Analysis Chart | C | US1729674242 | 4-Traders
Full-screen chart
Technical analysis trends CITIGROUP INC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 54,6 $
Spread / Average Target 24%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mike L. Corbat Chief Executive Officer & Director
James Anthony Forese President & CEO-Institutional Clients Group
Michael E. O'Neill Chairman
Don Callahan Chief Operations & Technology Officer
John C. Gerspach Chief Financial Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CITIGROUP INC-14.82%129 372
WELLS FARGO & CO-11.46%244 358
JPMORGAN CHASE & CO.-2.92%234 392
INDUSTRIAL AND COML BA..-5.90%223 651
CHINA CONSTRUCTION BAN..-12.63%171 054
BANK OF AMERICA CORP-12.77%150 792
More Results