Zacks Investment Research Downgrades First Solar (FSLR) to Hold

First Solar (NASDAQ:FSLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, November 10th.

According to Zacks, “First Solar’s third-quarter 2017 earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year. The company also raised its 2017 earnings guidance. Meanwhile, it continues to focus on retaining its competitive edge and aims to further consolidate its position in the solar market.  In fact, First Solar’s constant product innovation efforts will continue to attract customers and expand its revenue stream. The company also outperformed the broader industry in the last year. However, President Trump’s recent walk out from the landmark Paris deal, apart from initiatives to repeal the Clean Power Plan and boost coal production has kept the entire solar industry under immense pressure.”

Several other research firms also recently commented on FSLR. BidaskClub raised First Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a research note on Wednesday, August 16th. TheStreet raised First Solar from a “d+” rating to a “c” rating in a research note on Wednesday, July 19th. Vetr downgraded First Solar from a “buy” rating to a “sell” rating and set a $46.69 target price for the company. in a research note on Monday, July 31st. Finally, ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. First Solar presently has an average rating of “Hold” and an average price target of $52.10.

First Solar (NASDAQ FSLR) opened at $60.02 on Friday. First Solar has a one year low of $25.56 and a one year high of $63.10. The company has a market capitalization of $6,270.00, a price-to-earnings ratio of 14.85 and a beta of 1.99. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business’s revenue was up 59.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. analysts anticipate that First Solar will post 2.47 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in FSLR. BlackRock Inc. boosted its holdings in shares of First Solar by 7,977.6% during the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after purchasing an additional 6,836,843 shares during the last quarter. Vanguard Group Inc. raised its position in shares of First Solar by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after buying an additional 243,787 shares during the period. Schroder Investment Management Group raised its position in shares of First Solar by 12,600.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock worth $67,306,000 after buying an additional 1,666,064 shares during the period. Bank of New York Mellon Corp raised its position in shares of First Solar by 6.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after buying an additional 82,634 shares during the period. Finally, State Treasurer State of Michigan raised its position in shares of First Solar by 99.1% in the 2nd quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock worth $30,084,000 after buying an additional 375,500 shares during the period. Hedge funds and other institutional investors own 51.17% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first posted by BBNS and is owned by of BBNS. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://baseballnewssource.com/markets/zacks-investment-research-downgrades-first-solar-inc-fslr-to-hold/1775908.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.

Get a free copy of the Zacks research report on First Solar (FSLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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

 


Latest News

Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot


Leave a Reply

 
© 2006-2017 BBNS.