First Solar’s (FSLR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of First Solar (NASDAQ:FSLR) in a research note released on Friday. They currently have a $65.00 price objective on the solar cell manufacturer’s stock.

A number of other research analysts also recently weighed in on the company. Roth Capital set a $70.00 price target on First Solar and gave the company a buy rating in a report on Friday. Goldman Sachs Group reiterated a neutral rating and set a $65.00 price target (up previously from $50.00) on shares of First Solar in a report on Thursday, November 30th. Zacks Investment Research downgraded First Solar from a buy rating to a hold rating in a research note on Friday, November 10th. Vetr upgraded First Solar from a sell rating to a buy rating and set a $64.01 target price on the stock in a research note on Tuesday, October 31st. Finally, Robert W. Baird restated a hold rating and issued a $53.00 target price on shares of First Solar in a research note on Friday, October 27th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $53.91.

First Solar (NASDAQ:FSLR) opened at $57.27 on Friday. First Solar has a twelve month low of $25.56 and a twelve month high of $63.10. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6,297.31, a price-to-earnings ratio of 14.78 and a beta of 2.03.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. First Solar’s revenue for the quarter was up 59.5% compared to the same quarter last year. analysts expect that First Solar will post 2.47 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Schroder Investment Management Group boosted its stake 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 acquiring an additional 1,666,064 shares in the last quarter. Key Square Capital Management LLC bought a new stake in shares of First Solar during the 3rd quarter worth about $23,621,000. Ecofin Ltd. bought a new stake in shares of First Solar during the 2nd quarter worth about $19,485,000. Lord Abbett & CO. LLC bought a new stake in shares of First Solar during the 2nd quarter worth about $15,099,000. Finally, Gotham Asset Management LLC bought a new stake in shares of First Solar during the 2nd quarter worth about $14,135,000. Institutional investors own 51.21% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/12/05/first-solars-fslr-buy-rating-reiterated-at-needham-company-llc.html.

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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply