Argus upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $60.00 price objective on the solar cell manufacturer’s stock.
A number of other analysts have also recently commented on FSLR. Zacks Investment Research raised shares of First Solar from a sell rating to a hold rating in a research report on Friday, October 26th. BidaskClub raised shares of First Solar from a sell rating to a hold rating in a research report on Saturday, August 11th. ValuEngine raised shares of First Solar from a sell rating to a hold rating in a research report on Thursday, November 1st. Roth Capital set a $65.00 price objective on shares of First Solar and gave the stock a buy rating in a research report on Friday, October 26th. Finally, Bank of America cut their price objective on shares of First Solar from $63.00 to $53.00 and set a buy rating on the stock in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $67.47.
Shares of FSLR opened at $42.59 on Tuesday. The company has a current ratio of 4.48, a quick ratio of 4.14 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.79 and a beta of 1.32. First Solar has a 12 month low of $36.51 and a 12 month high of $81.72.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. The business had revenue of $676.22 million for the quarter, compared to analysts’ expectations of $683.93 million. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. As a group, sell-side analysts predict that First Solar will post 1.51 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Centaurus Financial Inc. bought a new position in shares of First Solar during the 2nd quarter worth about $113,000. Flagship Harbor Advisors LLC acquired a new stake in shares of First Solar in the 2nd quarter worth about $122,000. NEXT Financial Group Inc acquired a new stake in shares of First Solar in the 3rd quarter worth about $162,000. Advisors Asset Management Inc. acquired a new stake in shares of First Solar in the 2nd quarter worth about $208,000. Finally, We Are One Seven LLC acquired a new stake in shares of First Solar in the 3rd quarter worth about $203,000. 52.17% of the stock is currently owned by institutional investors.
About First Solar
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components 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.
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