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First Solar, Inc. (FSLR) Lowered to Underperform at Credit Suisse Group

24 February 2017
First Solar, Inc. (FSLR) Lowered to Underperform at Credit Suisse Group

The 52-week high of the shares is $74.29 while the 52-week low is $28.6. While this means that First Solar will have to compete using its older Series 4 modules (which have a low 120 watt capacity) through 2017, it should help the firm improve its margin profile in the medium-term.

For the fourth quarter, FSLR posted $480 million in revenue, which though outclassed consensus of $404 million simultaneously marks a fall compared to the $942 million the solar panel maker generated just a year ago.

11/03/2016 - First Solar, Inc. had its "hold" rating reiterated by analysts at Deutsche Bank.

Institutional investors now hold around $2.42 billion or 67.4% in FSLR stock. The average stock price target is $70.45 with 6 brokerages rating the stock a strong buy, 6 brokerages rating the stock a buy, 10 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell. First Solar's quarterly revenue was down 49.0% on a year-over-year basis.

The largest USA solar manufacturer's fourth-quarter net loss was $719.9 million, or $6.92 a share, compared with income of $164.1 million, or $1.60 a share, a year earlier, Tempe, Arizona-based First Solar said in a statement Tuesday. (Read Latest [Free Analytic] Facts on NASDAQ:FSLR and Be Updated) To accommodate long-term intention, experts calculate Return on Investment of 9.00%.

Leading thin-film PV manufacturer First Solar reported lower than guided total thin-film module shipments in 2016 but beat revenue guidance. The consensus rating is 2.8, suggesting the market has given up on the stock. The company has a 50 day moving average price of $33.18 and a 200-day moving average price of $35.80.

Shares of the company, which also declared better-than-expected profit and revenue, were up less than 1 percent at $36.62 in trading after the bell on Tuesday. The stock traded as high as $36.86 and last traded at $36.62, with a volume of 5,174,663 shares traded.

Furthermore, First Solar's book of business for 2018 seems unlikely to support three times earnings growth, and a valuation on normalized earnings trajectory isn't compelling following the stock's recent strong run, Hughes and Mandloi wrote Wednesday in a research report. To measure price-variation, we found FSLR's volatility during a week at 5.07% and during a month it has been found around 3.42%. Following the transaction, the CFO is left with a stake of 0 shares, now valued at $0.

In a report issued on February 9, Credit Suisse also maintained a Hold rating on the stock with a $30 price target.

In First Solar, Inc. Fourth quarter non-GAAP earnings per share, adjusted for restructuring charges and a tax expense associated with a distribution of cash to the United States, were $1.24. Likewise, the positive performance for the quarter was recorded as 17.52% and for the year was -42.99%, while the YTD performance remained at 14.12%. Analysts had estimated an EPS of $0.55.