First Solar’s Underperform Rating Reaffirmed at Bank of America (FSLR)
FSLR has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday. They now have a $75.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of First Solar from $75.00 to $76.00 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. Finally, analysts at Argus cut their price target on shares of First Solar from $81.00 to $79.00 in a research note on Wednesday, July 9th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $67.27.
First Solar (NASDAQ:FSLR) traded up 3.05% on Wednesday, hitting $65.604. The stock had a trading volume of 9,419,748 shares. First Solar has a 52-week low of $35.59 and a 52-week high of $74.84. The stock has a 50-day moving average of $66.02 and a 200-day moving average of $62.45. The company has a market cap of $6.569 billion and a price-to-earnings ratio of 15.45. First Solar also was the target of unusually large options trading activity on Tuesday. Stock investors acquired 26,579 call options on the stock. This represents an increase of approximately 209% compared to the typical daily volume of 8,589 call options.
First Solar (NASDAQ:FSLR) last released its earnings data on Tuesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.33. The company had revenue of $544.40 million for the quarter, compared to the consensus estimate of $795.88 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that First Solar will post $2.70 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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