First Solar Inc. (FSLR) Receives Consensus Recommendation of “Hold” from Brokerages
First Solar Inc. (NASDAQ:FSLR) has been assigned a consensus recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the stock. One analyst has rated the stock with a sell recommendation, nineteen have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $52.76.
A number of equities analysts recently commented on FSLR shares. Goldman Sachs Group Inc. restated a “buy” rating on shares of First Solar in a report on Friday, October 7th. Vetr upgraded First Solar from a “buy” rating to a “strong-buy” rating and set a $46.29 price objective on the stock in a report on Monday, October 24th. Standpoint Research restated a “buy” rating and issued a $54.00 price objective on shares of First Solar in a report on Tuesday, September 6th. JMP Securities restated an “underperform” rating and issued a $32.00 price objective on shares of First Solar in a report on Friday, November 4th. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $68.00 price objective (down previously from $89.00) on shares of First Solar in a report on Friday, August 5th.
Several institutional investors have recently bought and sold shares of FSLR. BOKF NA raised its position in First Solar by 3.8% in the second quarter. BOKF NA now owns 2,202 shares of the solar cell manufacturer’s stock valued at $106,000 after buying an additional 81 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in First Solar by 2,220.9% in the third quarter. Cornerstone Advisors Inc. now owns 2,994 shares of the solar cell manufacturer’s stock valued at $118,000 after buying an additional 2,865 shares during the period. LS Investment Advisors LLC boosted its position in First Solar by 21.7% in the third quarter. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer’s stock valued at $134,000 after buying an additional 605 shares during the period. Virtus Investment Advisers Inc. acquired a new position in First Solar during the third quarter valued at $139,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in First Solar during the second quarter valued at $141,000. Institutional investors own 57.01% of the company’s stock.
Shares of First Solar (NASDAQ:FSLR) opened at 33.19 on Friday. The company has a 50-day moving average of $38.11 and a 200 day moving average of $43.09. The firm has a market capitalization of $3.45 billion, a PE ratio of 6.78 and a beta of 2.20. First Solar has a 12-month low of $30.85 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.48. The business earned $688 million during the quarter, compared to analyst estimates of $980.48 million. First Solar had a net margin of 14.72% and a return on equity of 9.58%. The firm’s revenue was down 45.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.41 earnings per share. On average, analysts predict that First Solar will post $4.42 EPS for the current year.
About First Solar
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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