First Solar Given “Hold” Rating at Deutsche Bank (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “hold” rating reaffirmed by investment analysts at Deutsche Bank in a note issued to investors on Friday, Stock Ratings News reports.
First Solar (NASDAQ:FSLR) traded up 14.76% on Friday, hitting $57.73. 9,516,535 shares of the company’s stock traded hands. First Solar has a 52-week low of $18.30 and a 52-week high of $59.00. The stock’s 50-day moving average is $44.46 and its 200-day moving average is $44.92. The company has a market cap of $5.637 billion and a price-to-earnings ratio of 13.33. First Solar also was the target of unusually large options trading on Thursday. Traders bought 56,687 call options on the stock. This represents an increase of 204% compared to the typical volume of 18,662 call options.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 31st. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $1.32. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $988.63 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 up 50.8% on a year-over-year basis. On average, analysts predict that First Solar will post $3.77 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of First Solar from $34.00 to $40.00 in a research note to investors on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of First Solar to $49.00 in a research note to investors on Friday. Finally, analysts at Goldman Sachs Group Inc. reiterated a “positive” rating on shares of First Solar in a research note to investors on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.86.
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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