Guidance for 2015 was put in a range of sales as $3.5 billion to $3.6 billion, versus $3.44 billion consensus.
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First Solar, Inc. has a 52 week low of $39.18 and a 52 week high of $73.78. With the volume soaring to 3,715,277 shares, the last trade was called at $24.75. The 50-day moving average is $28.27 and the 200 day moving average is recorded at $30.65.
As many as 13 brokerage firms have rated First Solar (NASDAQ:FSLR) at 2.31. Analysts were expecting EPS of $0.36 on revenues of $788.3 million. On this, the company said: The sequential increase in net income was due to higher systems project revenue, project cost improvements and a discrete tax benefit in the second quarter of approximately $42 million.
Revenue in the three months ended in June rose 65%, year over yera, to $896 million, swung to profit of 93 cents a share, on a GAAP basis, from a year-earlier loss of 62 cents. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of First Solar in a research report on Tuesday. Research Analysts at Zacks have ranked the company at 5, suggesting the traders with a rating of strong sell for the short term. Goldman Sachs began coverage on First Solar in a research report on Tuesday, July 14th. They set a “neutral” rating and a $55.00 price target for the company. RBC Capital downgrades their rating on the shares of First Solar, Inc.
In related news, Director Michael T. Sweeney purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Georges Antoun sold 9,497 shares of the business’s stock in a transaction on Monday, July 6th. The disclosure for this sale can be found here.
First Solar, Inc. manufactures and sells photovoltaic (PV) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems. The Business operates through two segments: systems and components.
Canadian Solar Inc. (CSI) designs, develops, and manufactures solar wafers, cells and solar module products that convert sunlight into electricity for a variety of uses. The Company also makes crystalline silicon solar modules and single-axis mounting systems with monitoring capabilities.
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The company had “tremendous success” internationally in this quarter, including in the India, Latin America and Middle East regions, Hughes said.
