First Solar, Inc. (NASDAQ:FSLR) announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $1.11, Bloomberg Earnings reports. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. First Solar’s revenue was up 59.5% compared to the same quarter last year. First Solar updated its FY17 guidance to $2.40-2.60 EPS.
Shares of First Solar (NASDAQ FSLR) opened at $61.59 on Monday. First Solar has a twelve month low of $25.56 and a twelve month high of $62.57. The stock has a market capitalization of $6,432.03, a price-to-earnings ratio of 15.10 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.
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Several equities research analysts have issued reports on FSLR shares. Zacks Investment Research lowered shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 13th. Axiom Securities reiterated a “buy” rating on shares of First Solar in a research report on Thursday, August 10th. Deutsche Bank AG upgraded shares of First Solar from a “hold” rating to a “buy” rating and upped their price target for the stock from $50.00 to $65.00 in a research report on Friday, September 15th. Robert W. Baird reiterated a “hold” rating and set a $50.00 price target on shares of First Solar in a research report on Friday, September 1st. Finally, Vetr downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 price target on the stock. in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.61.
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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