First Solar (NASDAQ:FSLR) released its quarterly earnings results on Thursday. The solar cell manufacturer reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06, Bloomberg Earnings reports. First Solar had a return on equity of 15.28% and a net margin of 18.56%. The business had revenue of $339.00 million during the quarter, compared to analyst estimates of $459.93 million. During the same period in the prior year, the firm posted $1.24 EPS. First Solar’s quarterly revenue was down 29.4% compared to the same quarter last year.
First Solar (FSLR) opened at $66.28 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The firm has a market capitalization of $6,920.00, a price-to-earnings ratio of -15.93 and a beta of 2.08. First Solar has a 12 month low of $25.56 and a 12 month high of $76.61.
FSLR has been the subject of several research analyst reports. Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Tuesday, January 2nd. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $66.50 target price for the company in a research report on Thursday, December 14th. Guggenheim reaffirmed a “neutral” rating on shares of First Solar in a research report on Thursday, January 18th. They noted that the move was a valuation call. Goldman Sachs Group reaffirmed a “neutral” rating and set a $65.00 target price (up from $50.00) on shares of First Solar in a research report on Thursday, November 30th. Finally, Cowen reaffirmed an “outperform” rating and set a $77.00 target price (up from $60.00) on shares of First Solar in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. First Solar presently has an average rating of “Hold” and an average price target of $66.60.
In other First Solar news, insider Raffi Garabedian sold 11,284 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $70.06, for a total value of $790,557.04. Following the completion of the transaction, the insider now owns 9,227 shares in the company, valued at approximately $646,443.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Philip Dejong sold 15,304 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the transaction, the chief operating officer now owns 10,424 shares of the company’s stock, valued at approximately $707,059.92. The disclosure for this sale can be found here. Insiders have sold a total of 46,858 shares of company stock valued at $3,134,015 in the last quarter. 0.58% of the stock is owned by corporate insiders.
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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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