First Solar, Inc. (FSLR) Receives Consensus Rating of “Hold” from Analysts

First Solar, Inc. (NASDAQ:FSLR) has received a consensus recommendation of “Hold” from the twenty-five analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $64.00.

Several analysts have recently commented on FSLR shares. Goldman Sachs Group reiterated a “neutral” rating and issued a $65.00 target price (up previously from $50.00) on shares of First Solar in a report on Thursday, November 30th. Vetr upgraded shares of First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 target price for the company in a report on Wednesday, October 11th. BidaskClub lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. Needham & Company LLC upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Monday, October 2nd.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the transaction, the chief executive officer now owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raffi Garabedian sold 11,284 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $70.06, for a total transaction of $790,557.04. Following the transaction, the insider now owns 9,227 shares of the company’s stock, valued at approximately $646,443.62. The disclosure for this sale can be found here. Insiders have sold 46,858 shares of company stock valued at $3,134,015 in the last quarter. Company insiders own 0.58% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of First Solar by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after acquiring an additional 243,787 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Solar by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock valued at $66,825,000 after acquiring an additional 82,634 shares during the period. Key Square Capital Management LLC bought a new position in shares of First Solar in the third quarter valued at approximately $23,621,000. Ecofin Ltd. bought a new position in shares of First Solar in the second quarter valued at approximately $19,485,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of First Solar in the second quarter valued at approximately $15,099,000. Institutional investors own 50.88% of the company’s stock.

Shares of First Solar (NASDAQ FSLR) opened at $71.09 on Friday. The company has a market cap of $7,420.00, a PE ratio of -17.09 and a beta of 2.04. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar has a 1-year low of $25.56 and a 1-year high of $76.61.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.52 EPS for the current year.

WARNING: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/19/first-solar-inc-fslr-receives-consensus-rating-of-hold-from-analysts.html.

First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply