According to Zacks, “First Solar’s top line is heavily skewed toward foreign sales, exposing the company to foreign exchange risks. Again, intense competition, exposure to geopolitical risks and dependency on federal tax credit are major headwinds. Further the use of Cadmium Telluride may pose a possible environmental hazard; which in turn might cause the company to face added costs associated with violating environmental laws. However, First Solar’s share price outperformed the Zacks Categorized Solar industry price over the last one year as it continues to focus on retaining its competitive edge and aims to further consolidate its position in the market.”
A number of other equities analysts have also weighed in on FSLR. JMP Securities set a $32.00 price objective on shares of First Solar and gave the company a sell rating in a research report on Saturday, September 17th. J P Morgan Chase & Co restated a hold rating and issued a $53.00 target price (down from $65.00) on shares of First Solar in a report on Wednesday, September 28th. Williams Capital assumed coverage on shares of First Solar in a report on Friday, September 30th. They issued a buy rating and a $50.00 target price for the company. Goldman Sachs Group, Inc. (The) downgraded shares of First Solar from a buy rating to a neutral rating and lowered their target price for the company from $58.00 to $42.00 in a report on Thursday, October 6th. Finally, Vetr downgraded shares of First Solar from a strong-buy rating to a buy rating and set a $43.85 target price for the company. in a report on Thursday, October 6th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. First Solar presently has an average rating of Hold and a consensus target price of $46.00.
First Solar (NASDAQ:FSLR) traded up 5.03% during midday trading on Tuesday, reaching $35.07. 2,358,093 shares of the company’s stock were exchanged. First Solar has a 52 week low of $28.60 and a 52 week high of $74.29. The stock’s 50 day moving average is $32.33 and its 200 day moving average is $38.68. The firm has a market capitalization of $3.64 billion, a P/E ratio of 7.16 and a beta of 2.04.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, November 2nd. The solar cell manufacturer reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.48. The business earned $688 million during the quarter, compared to analyst estimates of $980.48 million. First Solar had a net margin of 14.72% and a return on equity of 9.58%. The company’s revenue was down 45.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.41 earnings per share. On average, analysts expect that First Solar will post $4.70 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its position in First Solar by 60.8% in the third quarter. D.A. Davidson & CO. now owns 4,350 shares of the solar cell manufacturer’s stock worth $170,000 after buying an additional 1,645 shares in the last quarter. LPL Financial LLC acquired a new position in First Solar during the third quarter worth about $985,000. Pioneer Investment Management Inc. boosted its position in First Solar by 102.9% in the third quarter. Pioneer Investment Management Inc. now owns 1,092,367 shares of the solar cell manufacturer’s stock worth $43,138,000 after buying an additional 554,108 shares in the last quarter. Cetera Advisors LLC acquired a new position in First Solar during the third quarter worth about $223,000. Finally, SRB Corp boosted its position in First Solar by 48.0% in the third quarter. SRB Corp now owns 4,236 shares of the solar cell manufacturer’s stock worth $167,000 after buying an additional 1,374 shares in the last quarter. 57.77% of the stock is owned by institutional investors and hedge funds.
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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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