First Solar (NASDAQ: FSLR) price target raised to $ 96.00 at Credit Suisse Group
First Solar (NASDAQ: FSLR) saw its price target lifted by research analysts on Credit Suisse Group stocks from $ 80.00 to $ 96.00 in a report released on Monday, The Fly reports. The brokerage currently has a “neutral” rating on the shares of the solar cell maker. Credit Suisse Group’s price target would suggest a potential decline of 7.71% from the company’s previous close.
Several other research firms also recently commented on the FSLR. Bank of America raised its price target for First Solar shares from $ 95.00 to $ 111.00 and gave the company a “buy” rating in a report released Thursday, July 1. Susquehanna downgraded First Solar shares from a “neutral” to a “positive” rating and raised its price target for the share from $ 89.00 to $ 120.00 in a report released on Monday 2 August. JPMorgan Chase & Co. raised its price target for First Solar shares from $ 94.00 to $ 101.00 and rated the stock “neutral” in a report released on Wednesday, July 21. TheStreet downgraded First Solar’s shares from a “c” rating to a “b-” rating in a report released on Friday, June 25. Finally, Wolfe Research launched coverage on First Solar shares in a report on Tuesday, August 31. They set a “peer performance” rating and a price target of $ 100.00 for the stock. Three investment analysts assigned a sell rating to the stock, nine assigned a conservation rating and ten assigned a buy rating to the company’s shares. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 102.57.
Shares of First Solar opened at $ 104.02 on Monday. The company has a current ratio of 4.77, a quick ratio of 3.86 and a debt ratio of 0.05. First Solar has a 12-month low of $ 59.52 and a 12-month high of $ 112.50. The company has a market cap of $ 11.06 billion, a price / earnings ratio of 19.78, a PEG ratio of 2.13 and a beta of 1.30. The company’s 50-day simple moving average is $ 92.79 and its two-hundred-day simple moving average is $ 84.69.
First Solar (NASDAQ: FSLR) last released its quarterly earnings data on Thursday, July 29. The solar cell maker announced EPS of $ 0.77 for the quarter, beating the consensus estimate of $ 0.60 by $ 0.17. The company posted revenue of $ 629.18 million for the quarter, compared to a consensus estimate of $ 632.03 million. First Solar had a net margin of 18.96% and a return on equity of 10.05%. During the same period of the previous year, the company earned $ 0.35 per share. On average, sell-side analysts predict that First Solar will post an EPS of 4.32 for the current fiscal year.
In addition, insider Georges Antoun sold 24,052 shares of the company in a transaction that took place on Monday, July 12. The shares were sold at an average price of $ 95.20, for a total value of $ 2,289,750.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Director R Craig Kennedy sold 550 shares of First Solar in a trade that took place on Thursday, July 15. The stock was sold for an average price of $ 89.03, for a total trade of $ 48,966.50. Disclosure of this sale can be found here. In the past three months, insiders have sold 39,827 shares of the company valued at $ 3,694,772. Insiders own 0.55% of the company’s shares.
A number of institutional investors have recently changed their holdings of equities. Crédit Agricole SA increased its stake in First Solar by 31.7% during the second quarter. Crédit Agricole SA now owns 139,437 shares of the solar cell manufacturer valued at $ 12,620,000 after purchasing 33,555 additional shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in First Solar by 168.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,829 shares of the solar cell maker valued at $ 7,493,000 after purchasing an additional 53,811 shares in the last quarter. Cozad Asset Management Inc. increased its stake in First Solar by 9.8% during the second quarter. Cozad Asset Management Inc. now owns 86,016 shares of the solar cell maker valued at $ 7,785,000 after purchasing an additional 7,676 shares in the last quarter. Compton Capital Management Inc. RI acquired a new interest in First Solar during the second quarter valued at approximately $ 425,000. Finally, Triodos Investment Management BV increased its stake in First Solar by 16.7% during the first quarter. Triodos Investment Management BV now owns 175,000 shares of the solar cell maker valued at $ 15,278,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors hold 73.18% of the shares of the company.
About First Solar
First Solar, Inc is engaged in the design, manufacture, marketing and distribution of solar photovoltaic energy systems and solar modules. It operates through the Modules and Systems segments. The Modules segment is concerned with the design, manufacture and sale of cadmium telluride solar modules, which convert sunlight into electricity.
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