First Solar Receives “Underperform” Rating from Bank of America Corp. (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “underperform” rating reiterated by stock analysts at Bank of America Corp. in a report issued on Thursday, Analyst RN reports. They currently have a $34.00 price target on the stock. Bank of America Corp.’s price objective suggests a potential downside of 18.27% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of First Solar in a research note to investors on Tuesday, October 1st. Separately, analysts at Zacks reiterated a “neutral” rating on shares of First Solar in a research note to investors on Thursday, September 26th. They now have a $42.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $35.43.
First Solar (NASDAQ:FSLR) opened at 41.60 on Thursday. First Solar has a 1-year low of $21.50 and a 1-year high of $59.00. The stock’s 50-day moving average is $39.46 and its 200-day moving average is $42.90. The company has a market cap of $4.062 billion and a P/E ratio of 11.02.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue 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.
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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