First Solar Stock Rating Reaffirmed by TheStreet (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “hold” rating restated by investment analysts at TheStreet in a note issued to investors on Monday, Analyst Ratings Network.com 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 1.09% during mid-day trading on Monday, hitting $43.7825. 1,500,277 shares of the company’s stock traded hands. First Solar has a one year low of $21.82 and a one year high of $59.00. The stock’s 50-day moving average is $39.69 and its 200-day moving average is $43.00. The company has a market cap of $4.275 billion and a price-to-earnings ratio of 11.48.
First Solar (NASDAQ:FSLR) last released its earnings data 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 $3.76 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. reiterated an “underperform” rating on shares of First Solar in a research note to investors on Thursday. They now have a $34.00 price target on the stock. 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. Finally, analysts at Raymond James upgraded shares of First Solar 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. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $35.43.
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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