First Solar Inc. (NASDAQ:FSLR) – Analysts at Williams Capital boosted their FY2016 EPS estimates for shares of First Solar in a research note issued to investors on Thursday. Williams Capital analyst C. Motz now expects that the firm will post earnings of $4.71 per share for the year, up from their prior forecast of $4.43. Williams Capital has a “Buy” rating and a $50.00 price objective on the stock.

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, beating analysts’ consensus estimates of $0.74 by $0.48. The company had revenue of $688 million for the quarter, compared to analyst estimates of $980.48 million. First Solar had a return on equity of 9.58% and a net margin of 14.72%. First Solar’s revenue for the quarter was down 45.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 EPS.

Earnings History and Estimates for First Solar (NASDAQ:FSLR)

A number of other research analysts have also weighed in on the stock. Goldman Sachs Group Inc. reissued a “buy” rating on shares of First Solar in a research report on Friday, October 7th. Vetr raised shares of First Solar from a “buy” rating to a “strong-buy” rating and set a $46.29 price target on the stock in a research report on Monday, October 24th. Standpoint Research reaffirmed a “buy” rating and issued a $54.00 price objective on shares of First Solar in a research report on Tuesday, September 6th. JMP Securities reaffirmed an “underperform” rating and issued a $32.00 price objective on shares of First Solar in a research report on Friday, November 4th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $68.00 price objective (down previously from $89.00) on shares of First Solar in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.03.

First Solar (NASDAQ:FSLR) traded down 5.52% during midday trading on Friday, reaching $29.44. The company’s stock had a trading volume of 3,883,378 shares. First Solar has a 1-year low of $28.60 and a 1-year high of $74.29. The company has a 50 day moving average of $37.72 and a 200-day moving average of $42.93. The company has a market capitalization of $3.06 billion, a P/E ratio of 6.01 and a beta of 2.20.

Large investors have recently made changes to their positions in the stock. Capital World Investors raised its stake in shares of First Solar by 147.0% in the third quarter. Capital World Investors now owns 7,100,000 shares of the solar cell manufacturer’s stock worth $280,379,000 after buying an additional 4,225,000 shares during the period. AQR Capital Management LLC raised its stake in shares of First Solar by 50.9% in the second quarter. AQR Capital Management LLC now owns 2,130,033 shares of the solar cell manufacturer’s stock worth $103,264,000 after buying an additional 718,308 shares during the period. Janus Capital Management LLC raised its stake in shares of First Solar by 763.9% in the second quarter. Janus Capital Management LLC now owns 675,710 shares of the solar cell manufacturer’s stock worth $32,758,000 after buying an additional 597,490 shares during the period. Pioneer Investment Management Inc. raised its stake in shares of First Solar by 102.9% in the third quarter. Pioneer Investment Management Inc. now owns 1,092,367 shares of the solar cell manufacturer’s stock worth $43,138,000 after buying an additional 554,108 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of First Solar by 25.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,534,789 shares of the solar cell manufacturer’s stock worth $122,884,000 after buying an additional 509,527 shares during the period. 57.01% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:FSLR

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