Q1 2017 EPS Estimates for First Solar Inc. (FSLR) Cut by Analyst
First Solar Inc. (NASDAQ:FSLR) – Investment analysts at Williams Capital decreased their Q1 2017 earnings estimates for First Solar in a research note issued to investors on Wednesday. Williams Capital analyst C. Motz now expects that the firm will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.45. Williams Capital has a “Buy” rating and a $50.00 price target on the stock. Williams Capital also issued estimates for First Solar’s Q2 2017 earnings at $0.35 EPS, Q4 2017 earnings at $0.80 EPS and FY2017 earnings at $1.81 EPS.
Other analysts have also recently issued reports about the stock. JMP Securities set a $32.00 price objective on shares of First Solar and gave the company a “sell” rating in a research note on Saturday, September 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 price target on shares of First Solar in a research report on Thursday, August 4th. Vetr raised shares of First Solar from a “hold” rating to a “buy” rating and set a $50.01 price target for the company in a research report on Tuesday, July 26th. S&P Equity Research cut shares of First Solar from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $55.00 in a research report on Friday, August 5th. Finally, Mizuho decreased their price target on shares of First Solar from $67.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. First Solar currently has a consensus rating of “Hold” and an average price target of $53.67.
Shares of First Solar (NASDAQ:FSLR) opened at 32.06 on Friday. The firm has a 50-day moving average price of $38.34 and a 200-day moving average price of $43.68. The firm has a market capitalization of $3.28 billion, a PE ratio of 4.72 and a beta of 2.20. First Solar has a 1-year low of $30.85 and a 1-year high of $74.29.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, November 2nd. The solar cell manufacturer reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.48. First Solar had a return on equity of 9.58% and a net margin of 14.72%. The company had revenue of $688 million for the quarter, compared to analysts’ expectations of $980.48 million. During the same period last year, the firm earned $3.41 earnings per share. First Solar’s quarterly revenue was down 45.9% on a year-over-year basis.
Large investors have recently modified their holdings of the stock. Roumell Asset Management LLC increased its stake in shares of First Solar by 207.2% in the third quarter. Roumell Asset Management LLC now owns 51,820 shares of the solar cell manufacturer’s stock valued at $2,046,000 after buying an additional 34,950 shares during the period. Pacer Advisors Inc. increased its stake in shares of First Solar by 9.8% in the third quarter. Pacer Advisors Inc. now owns 9,226 shares of the solar cell manufacturer’s stock valued at $364,000 after buying an additional 822 shares during the period. Principal Financial Group Inc. increased its stake in shares of First Solar by 2.1% in the third quarter. Principal Financial Group Inc. now owns 117,175 shares of the solar cell manufacturer’s stock valued at $4,627,000 after buying an additional 2,395 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of First Solar during the third quarter valued at approximately $274,000. Finally, Northern Trust Corp increased its stake in shares of First Solar by 0.6% in the third quarter. Northern Trust Corp now owns 731,734 shares of the solar cell manufacturer’s stock valued at $28,896,000 after buying an additional 4,556 shares during the period. Institutional investors and hedge funds own 57.28% of the company’s stock.
First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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