First Solar’s Sell Rating Reaffirmed at Goldman Sachs (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “sell” rating reiterated by investment analysts at Goldman Sachs in a note issued to investors on Wednesday, StockRatingsNetwork.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital reiterated a “buy” rating on shares of First Solar in a research note on Wednesday. They now have a $83.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.53.
First Solar (NASDAQ:FSLR) traded down 4.67% on Wednesday, hitting $64.30. 4,592,389 shares of the company’s stock traded hands. First Solar has a 1-year low of $35.59 and a 1-year high of $74.84. The stock has a 50-day moving average of $69.0 and a 200-day moving average of $58.88. The company has a market cap of $6.399 billion and a P/E ratio of 18.23. First Solar also was the target of unusually large options trading on Tuesday. Stock investors bought 24,166 call options on the stock. This represents an increase of approximately 152% compared to the average daily volume of 9,590 call options.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.54. The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $837.90 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Analysts expect that First Solar will post $2.49 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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