First Solar Given Consensus Rating of “Hold” by Brokerages (NASDAQ:FSLR)
Shares of First Solar (NASDAQ:FSLR) have earned a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the company, ARN reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $70.31.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of First Solar from $48.00 to $56.00 in a research note on Wednesday, August 6th. Separately, analysts at Bank of America reiterated an “underperform” rating on shares of First Solar in a research note on Wednesday, August 6th. Finally, analysts at Needham & Company LLC upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, August 6th. They now have a $75.00 price target on the stock.
First Solar (NASDAQ:FSLR) opened at 70.46 on Thursday. 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 $65.77 and a 200-day moving average of $63.93. The company has a market cap of $7.060 billion and a price-to-earnings ratio of 19.02.
First Solar (NASDAQ:FSLR) last released its earnings data on Tuesday, August 5th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that First Solar will post $2.60 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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