TheStreet Reiterates “Hold” Rating for First Solar (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “hold” rating restated by analysts at TheStreet in a research report issued to clients and investors on Tuesday, AnalystRatings.Net 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.”
Shares of First Solar (NASDAQ:FSLR) traded up 1.63% on Tuesday, hitting $40.8641. 1,380,076 shares of the company’s stock traded hands. 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 $38.60 and a 200-day moving average of $42.26. The company has a market cap of $3.990 billion and a P/E ratio of 10.65.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.27 earnings per share. First Solar’s revenue was down 45.7% compared to the same quarter last year. On average, analysts predict that First Solar will post $3.83 earnings per share for the current fiscal year.
FSLR has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of First Solar (NASDAQ:FSLR) in a research note to investors on Thursday, September 26th. They now have a $42.00 price target on the stock. Separately, 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. Finally, 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. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $35.50.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.