First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “hold” rating reiterated by research analysts at Robert W. Baird in a research note issued to investors on Friday, October 27th. They currently have a $53.00 price target on the solar cell manufacturer’s stock. Robert W. Baird’s price objective would suggest a potential downside of 13.95% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. Axiom Securities reissued a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Bank of America Corporation reissued a “buy” rating and set a $64.00 price target on shares of First Solar in a report on Tuesday, August 29th. Vetr raised First Solar from a “buy” rating to a “strong-buy” rating and set a $54.35 price target on the stock in a report on Wednesday, October 25th. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Deutsche Bank AG raised First Solar from a “hold” rating to a “buy” rating and raised their price target for the company from $50.00 to $65.00 in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.61.
First Solar (NASDAQ:FSLR) opened at $61.59 on Friday. The firm 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 debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a twelve month low of $25.56 and a twelve month high of $62.57.
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 Zacks’ consensus estimate of $0.84 by $1.11. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. During the same period last year, the firm earned $1.22 EPS. First Solar’s revenue for the quarter was up 59.5% compared to the same quarter last year. sell-side analysts predict that First Solar will post 2.47 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after acquiring an additional 6,836,843 shares during the period. Vanguard Group Inc. raised its position in shares of First Solar by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after purchasing an additional 243,787 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Solar by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after purchasing an additional 158,896 shares during the last quarter. Schroder Investment Management Group raised its position in shares of First Solar by 12,600.7% during 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 purchasing an additional 1,666,064 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of First Solar by 6.0% during 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 purchasing an additional 82,634 shares during the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.
About First Solar
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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