Zacks Investment Research Downgrades First Solar, Inc. (FSLR) to Hold

First Solar, Inc. (NASDAQ:FSLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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.”

FSLR has been the topic of several other research reports. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a research note on Thursday, August 10th. JMP Securities set a $67.00 price target on First Solar and gave the company a “buy” rating in a research note on Wednesday, August 16th. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. BidaskClub lowered First Solar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Vetr lowered First Solar from a “hold” rating to a “sell” rating and set a $45.99 price target on the stock. in a research note on Monday, August 14th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.91.

Shares of First Solar (NASDAQ FSLR) traded up $0.27 during trading hours on Friday, reaching $60.51. The company’s stock had a trading volume of 1,677,955 shares, compared to its average volume of 2,787,065. First Solar has a 52-week low of $25.56 and a 52-week high of $62.57. The company has a market capitalization of $6,320.00, a PE ratio of 14.77 and a beta of 1.99. 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 (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion for 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 for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. equities research analysts forecast that First Solar will post 2.47 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of the stock. Energy Opportunities Capital Management LLC bought a new position in shares of First Solar during the third quarter worth about $1,250,000. GSA Capital Partners LLP bought a new position in First Solar in the third quarter valued at approximately $488,000. Cetera Advisors LLC grew its stake in First Solar by 16.0% in the third quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock valued at $365,000 after purchasing an additional 1,100 shares in the last quarter. Janus Henderson Group PLC bought a new position in First Solar in the third quarter valued at approximately $1,519,000. Finally, Vident Investment Advisory LLC bought a new position in First Solar in the third quarter valued at approximately $2,720,000. Institutional investors and hedge funds own 51.18% of the company’s stock.

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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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