First Solar, Inc. (FSLR) Issues Quarterly Earnings Results, Beats Estimates By $1.11 EPS

First Solar, Inc. (NASDAQ:FSLR) released its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $0.84 by $1.11, Bloomberg Earnings reports. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. First Solar updated its FY17 guidance to $2.40-2.60 EPS.

Shares of First Solar (NASDAQ FSLR) traded up $1.05 during mid-day trading on Friday, reaching $61.59. The company had a trading volume of 1,952,600 shares, compared to its average volume of 3,461,407. The company has a market capitalization of $6,432.03, a PE ratio of 15.10 and a beta of 1.99. First Solar has a 52-week low of $25.56 and a 52-week high of $62.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85.

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Several equities research analysts recently weighed in on FSLR shares. Zacks Investment Research downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 13th. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Deutsche Bank AG raised shares of First Solar from a “hold” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $65.00 in a report on Friday, September 15th. Robert W. Baird reissued a “hold” rating and issued a $50.00 price target on shares of First Solar in a 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 for the company. in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently 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.

Earnings History for First Solar (NASDAQ:FSLR)

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