First Solar (NASDAQ:FSLR) issued its earnings results on Thursday. The solar cell manufacturer reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.52), MarketWatch Earnings reports. First Solar had a net margin of 6.43% and a return on equity of 2.80%. The firm had revenue of $532.00 million during the quarter, compared to analyst estimates of $596.32 million. During the same quarter in the previous year, the business posted $0.78 EPS. First Solar’s revenue was down 6.2% compared to the same quarter last year. First Solar updated its FY 2019 guidance to $2.25-2.75 EPS and its FY19 guidance to $2.25-2.75 EPS.
NASDAQ:FSLR traded up $1.90 during mid-day trading on Friday, hitting $61.76. The company had a trading volume of 4,447,949 shares, compared to its average volume of 1,514,061. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.57 and a quick ratio of 4.11. First Solar has a 1 year low of $36.51 and a 1 year high of $75.75. The firm has a market capitalization of $6.51 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.32.
A number of brokerages recently weighed in on FSLR. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a report on Monday, April 29th. ValuEngine upgraded First Solar from a “hold” rating to a “buy” rating in a report on Wednesday. BidaskClub upgraded First Solar from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Argus lifted their target price on First Solar to $66.00 and gave the company an “average” rating in a report on Friday. Finally, Roth Capital set a $75.00 target price on First Solar and gave the company a “buy” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.69.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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