Latest First Solar, Inc. (FSLR) Lifted to "Outperform" at JMP Securities

Cornelia Mascio
Ottobre 13, 2017

Looking forward, the company's quarterly earnings are expected to come at $0.55 in the three months through October 2017 and $0.58 in the quarter ending January 2018, reflecting -8.33% and 13.73% growth, respectively. (NASDAQ:FSLR) by 47.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investors in our partner's database now own: 73.13 million shares, up from 62.07 million shares in 2017Q1. Benjamin F. Edwards & Company Inc. increased its position in First Solar by 57.6% in the 2nd quarter. James Investment Research Inc. now owns 56,190 shares of the solar cell manufacturer's stock valued at $2,241,000 after buying an additional 50,190 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of First Solar during the second quarter valued at approximately $128,000. First Solar had previously refrained from taking sides even as the trade group fought vigorously against tariffs, saying they would drive up panel prices and lead to 88,000 job losses, mostly among power-plant developers, installers and suppliers of related hardware. Finally, Bank of Nova Scotia acquired a new position in shares of First Solar in the 1st quarter valued at $212,000. Vetr now has $53.04 price target on the solar cell manufacturer's stock. Following the completion of the sale, the insider now directly owns 11,474 shares of the company's stock, valued at approximately $571,749.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Philip Dejong sold 21,091 shares of the firm's stock in a transaction dated Tuesday, August 1st. The disclosure for this sale can be found here. The stock was sold at an average price of $49.69, for a total value of $1,177,454.24. First Solar, Inc. (FSLR) has declined 22.83% since October 12, 2016 and is downtrending. (FSLR) opened at 47.67 on Wednesday. The firm's 50 day moving average is $32.14 and its 200-day moving average is $32.29. It last reported revenues of $3.8 billion and EPS of $0.58 for the July 2017, representing -1% top-line growth and 0.6 EPS growth. The solar cell manufacturer reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.60. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The business had revenue of $623.00 million for the quarter, compared to analysts' expectations of $591.55 million. During the same period in the previous year, the company posted $0.87 EPS. First Solar's revenue was down 38.7% on a year-over-year basis. On average, analysts predict that First Solar will post $0.54 earnings per share for the current fiscal year.

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Several equities analysts have recently commented on the company. BidaskClub raised First Solar from a "buy" rating to a "strong-buy" rating in a research note on Monday, July 24th. (NASDAQ:FSLR) earned "Hold" rating by Standpoint Research on Wednesday, December 9. ValuEngine upgraded First Solar from a "hold" rating to a "buy" rating in a research report on Friday, August 11th. Oppenheimer initiated it with "Outperform" rating and $61 target in Wednesday, September 9 report. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $45.18.

First Solar Inc is no longer on the sidelines of a trade case that threatens the US$29 billion U.S. solar industry, and it's supporting tariffs on imports.

First Solar uses thin-film technology that's different from the conventional polysilicon panels that dominate the industry.

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