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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Renewable energy companies like First Solar are expected to benefit from tighter federal regulations to cut greenhouse gases.
Overall, First Solar reported a profit of $94.5 million, or 93 cents a share, compared with $4.5 million, or four cents a share, a year earlier. They set a “neutral” rating and a $55.00 price target for the company. The shares were sold at an average price of $44.27, for a total value of $420,432.19. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company.
The company shares have dropped 29.84% in the past 52 Weeks. The stock has a 52-week range of $39.18 to $73.78 and a consensus analyst price target of $62.85.
TheStreet Ratings team rates FIRST SOLAR INC as a Hold with a ratings score of C+. Earnings per share was guided to $3.30 to $3.60 EPS versus $2.36 EPS expected. The 50-day moving average is $46.65 and the 200 day moving average is recorded at $52.69. The stock is now up 4.22 on 540K shares.
Shares of the partnership, which opened below the $21 offering price, have fallen 28% through Tuesday’s $14.90 closing. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $221,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The disclosure for this sale can be found here. It operates its business in two segments: components segment and systems segment.
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. In September 2013, First Solar, Inc and K Road Power Holdings LLC announced that First Solar acquired from K Road the 250 megawatt (MW)AC photovoltaic Moapa Solar Project in Nevada. Its systems business involves the sale of its solar modules coupled with the engineering, procurement and construction of the solar PV power plant. The Organization also makes crystalline silicon solar modules and single-axis mounting systems with tracking abilities.
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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.
