Business

First Solar, Inc. (FSLR) Shares Up 5.1% After Better-Than-Expected Earnings

First Solar, Inc. (FSLR) Shares Up 5.1% After Better-Than-Expected Earnings

Credit Suisse issued rating on the stock of First Solar, Inc.

Brief Synopsis On First Solar Inc. During the fourth quarter, the Company accomplished the sale of its remaining interest in the Desert Stateline project and recognized $125 million of profit, net of tax, in equity in earnings. Earnings, adjusted for one-time gains and costs, were $1.24 per share. Whereas for the next year revenues are set at $2.36B by 21 analysts.

Cash and marketable securities at the end of the fourth quarter reduced slightly to $2.0 billion from $2.1 billion in the prior quarter. Based on 5 analysts polled by TipRanks in the last 3 months, 1 rates a Buy on FSLR stock, 3 maintain a Hold, while 1 issues a Sell.

For this year, the company raised its revenue forecast from a prior range of $2.5 billion to $2.6 billion to a new range of $2.8 billion to $2.9 billion. The highest analyst price target is $56.00, which implies a rally of 47 percent.

Flows of major weapons 'highest since Cold War'
However the agency's three to five year economic forecast of its foreign weapons sales did sync up with Monday's SIPRI report. Saudi Arabia was the second largest arms importer in 2012-16, with an increase of 212 per cent compared with 2007-11.

The company is expected to report earnings of $0.44 per share for the current quarter, according to consensus agreement of 19 analysts. The stock has been active on the tape, now trading at $33.57, down from yesterday's close by -8.33%. The company had revenue of $480.43 million for the quarter, compared to analyst estimates of $412.76 million. The stock now has a Market Cap of $5.50B. The firm has a 50 day moving average of $33.38 and a 200 day moving average of $35.40.

The last time First Solar reported a loss of this magnitude was the first quarter of 2012, when solar suppliers were suffering through a global glut that dragged down prices and ate into margins. The Market Capitalization of the company stands at 3.73 Billion. 8,424,350 shares of the company traded hands.

Shares of First Solar (NDAQ:FSLR) traded down 7.62% during trading on Wednesday, reaching $33.83. Number of analysts are covering this stock and now stock has got OUTPERFORM rating from 27 analysts of Thomson Reuters, 1 analyst given HOLD rating to the stock and 1 given UNDERPERFORM rating. The stock has a quick ratio of 2.20 and a current ratio of 2.50. The number of shares now owned by investors are 338.02 mln.

First Solar (NASDAQ:FSLR) has insider ownership of 0.40% and institutional ownership of 58.02%. The difference between the estimated and actual earnings was $0.27 per share. The Closing price of First Solar, Inc. Over the trailing year, the stock is underperforming the S&P 500 by 23.12, and it's gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. The legal version of this piece can be accessed at https://www.com-unik.info/2017/02/22/first-solar-inc-fslr-releases-earnings-results-beats-expectations-by-0-27-eps.html.


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