ThinkEquity Cuts First Solar EPS Estimates (FSLR)
Equities researchers at ThinkEquity cut their earnings per share (EPS) estimates on shares of First Solar (NASDAQ: FSLR) in a report issued on Friday. The firm currently has a “sell” rating and a $16.00 target price on the company’s shares.
First Solar traded up 4.31% on Friday, hitting $17.67. First Solar has a 52-week low of $17.81 and a 52-week high of $142.22. The company’s market cap is $1.532 billion.
First Solar last posted its quarterly earnings results on Thursday, May 3rd. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.61 by $0.69. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, analysts predict that First Solar will post $1.28 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cantor Fitzgerald raised their price target on shares of First Solar from $21.50 to $23.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at DNB Markets upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $25.00 price target on the stock, up previously from $23.00. Finally, analysts at Needham & Company reiterated a “hold” rating on shares of First Solar in a research note to investors on Friday.
First Solar, Inc. manufactures and sells solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells photovoltaic (PV) solar power systems.