First Solar (FSLR) Issues FY19 Earnings Guidance

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First Solar (NASDAQ:FSLR) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.25-2.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.91. The company issued revenue guidance of $3.25-3.45 billion, compared to the consensus revenue estimate of $3.02 billion.

Shares of FSLR opened at $42.45 on Wednesday. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09. First Solar has a one year low of $36.51 and a one year high of $81.72. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.75 and a beta of 1.32.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. The business had revenue of $676.22 million during the quarter, compared to analyst estimates of $683.93 million. Sell-side analysts predict that First Solar will post 1.51 EPS for the current fiscal year.

Several research firms have recently issued reports on FSLR. Goldman Sachs Group upgraded shares of First Solar from a sell rating to a neutral rating and lifted their target price for the company from $39.00 to $46.00 in a report on Monday, December 3rd. BidaskClub lowered shares of First Solar from a hold rating to a sell rating in a report on Friday, August 17th. Morgan Stanley set a $56.00 target price on shares of First Solar and gave the company a hold rating in a report on Tuesday. UBS Group lowered their target price on shares of First Solar to $73.00 and set a buy rating for the company in a report on Wednesday. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $75.00 target price on shares of First Solar and gave the company a buy rating in a report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. First Solar has a consensus rating of Hold and a consensus price target of $65.62.

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About First Solar

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.

See Also: Liquidity

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