First Solar (NASDAQ:FSLR) issued its quarterly earnings data on Thursday. The solar cell manufacturer reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.15), RTT News reports. The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $812.52 million. First Solar had a net margin of 6.43% and a return on equity of 2.80%. First Solar’s revenue was up 103.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) earnings per share. First Solar updated its FY 2019 guidance to $2.25-2.75 EPS and its FY19 guidance to $2.25-2.75 EPS.
Shares of First Solar stock traded up $1.78 during mid-day trading on Friday, hitting $53.73. 4,112,258 shares of the stock were exchanged, compared to its average volume of 1,470,924. The stock has a market capitalization of $5.45 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.32 and a beta of 1.31. First Solar has a twelve month low of $36.51 and a twelve month high of $81.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.48 and a quick ratio of 4.14.
A number of equities research analysts recently commented on FSLR shares. JPMorgan Chase & Co. set a $75.00 price objective on shares of First Solar and gave the company a “buy” rating in a research note on Tuesday, October 30th. Barclays started coverage on shares of First Solar in a research note on Monday, January 7th. They issued an “overweight” rating and a $63.00 price objective on the stock. Goldman Sachs Group raised shares of First Solar to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, January 16th. UBS Group set a $85.00 price objective on shares of First Solar and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating in a research note on Friday, October 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $64.88.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of First Solar by 8.4% during the 4th quarter. BlackRock Inc. now owns 7,576,706 shares of the solar cell manufacturer’s stock worth $321,670,000 after acquiring an additional 587,389 shares during the period. Millennium Management LLC lifted its holdings in shares of First Solar by 523.0% during the 4th quarter. Millennium Management LLC now owns 2,065,760 shares of the solar cell manufacturer’s stock worth $87,702,000 after acquiring an additional 1,734,171 shares during the period. AQR Capital Management LLC lifted its holdings in shares of First Solar by 3.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,853,115 shares of the solar cell manufacturer’s stock worth $89,728,000 after acquiring an additional 62,482 shares during the period. Park West Asset Management LLC purchased a new position in shares of First Solar during the 4th quarter worth about $77,966,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of First Solar by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,526,286 shares of the solar cell manufacturer’s stock worth $64,800,000 after acquiring an additional 42,066 shares during the period. Institutional investors and hedge funds own 54.80% of the company’s stock.
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First Solar Company Profile
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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