First Solar Stock Rating Reaffirmed by TheStreet (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “hold” rating reaffirmed by equities research analysts at TheStreet in a research note issued to investors on Friday, American Banking News reports.
The analysts wrote, “First Solar (FSLR) has been reiterated by TheStreet Ratings as a hold with a ratings score of C. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company’s earnings per share.”
First Solar (NASDAQ:FSLR) traded up 2.05% on Friday, hitting $40.645. The stock had a trading volume of 1,345,117 shares. First Solar has a 52-week low of $19.68 and a 52-week high of $59.00. The stock has a 50-day moving average of $39.56 and a 200-day moving average of $41.35. The company has a market cap of $3.969 billion and a P/E ratio of 10.55.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.14. The company had revenue of $520.00 million for the quarter, compared to the consensus estimate of $721.08 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was down 45.7% on a year-over-year basis. Analysts expect that First Solar will post $3.83 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of First Solar (NASDAQ:FSLR) from an “underperform” rating to a “market perform” rating in a research note to investors on Friday, August 23rd. They now have a $20.00 price target on the stock. Separately, analysts at Argus cut their price target on shares of First Solar (NASDAQ:FSLR) from $55.00 to $51.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG cut their price target on shares of First Solar (NASDAQ:FSLR) from $51.00 to $48.00 in a research note to investors on Wednesday, August 7th. They now have a “neutral” rating on the stock.
Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.87.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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