First Solar’s “Hold” Rating Reaffirmed at TheStreet (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “hold” rating restated by TheStreet in a research note issued on Tuesday, AR Network 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company’s profit margins have been poor overall.”
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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of First Solar from a “buy” rating to a “sell” rating in a research note to investors on Monday. They now have a $45.00 price target on the stock, down previously from $61.00. Separately, analysts at Argus raised their price target on shares of First Solar from $51.00 to $70.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of First Solar from $48.00 to $55.00 in a research note to investors on Friday, November 1st. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a sell rating, sixteen have given 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 $41.29.
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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