First Solar, Inc. (FSLR) is an American photovoltaic (PV) manufacturer of rigid thin film modules, or solar panels, and a provider of utility-scale PV power plants and supporting services that include finance, construction, maintenance and end-of-life panel recycling. First Solar uses cadmium telluride (CdTe) as a semiconductor to produce CdTe-panels, that are competing successfully with conventional crystalline silicon technology. In 2009, First Solar became the first solar panel manufacturing company to lower its manufacturing cost to $1 per watt and produced CdTe-panels with an efficiency of about 14 percent at a reported cost of 59 cents per watt in 2013. The company was founded in 1990 by inventor Harold McMaster as Solar Cells, Inc. and the Florida Corporation in 1993 with JD Polk. In 1999 it was purchased by True North Partners, LLC, who rebranded it as First Solar, Inc. The company went public in 2006, trading on the NASDAQ. Its current chief executive is James Hughes, who succeeded interim CEO Michael J. Ahearn on May 3, 2012. First Solar is based in Tempe, Arizona. As of 2010, First Solar was considered the second-largest maker of PV modules worldwide and ranked sixth in Fast Company’s list of the world's 50 most innovative companies. In 2011, it ranked first on Forbes’s list of America’s 25 fastest-growing technology companies. It is listed on the Photovoltaik Global 30 Index since the beginning of this stock index in 2009. The company was also listed as No. 1 in Solar Power World magazine’s 2012 and 2013 rankings of solar contractors.
Earnings out First Solar beats by $0.63, misses on revs; guides FY16 EPS in-line, reaffirms FY16 revs guidance; Announces leadership transition
Reported after close today (4/27/16) Earnings: EPS $1.66 Revenue $848M Estimates: EPS $0.91 Revenue $962M
Solar stocks starting to move. Saw SCTY move a week ago as a leader and grabbed some FSLR a couple days ago. TAN's been range trading for a while with a positive divergence. I'd like to see it move to the 200, approximately $25.50.
Close to taking out 52wk lows again! Should have been watching the short side here on that recent bounce, what was I thinking?
First Solar, Inc. (FSLR) Downgraded to Hold, PT Cut to $44; Here's Why Deutsche Bank has downgraded the stock and cut his price target by more than 81% owing to downside earnings risk Published By: Myrna Salomon on July 7, 2016 11:05 am EST Deutsche Bank analyst Vishal Shah has downgraded his rating on First Solar, Inc. from Buy to Hold in a research note today. Owing to his forecasted downside risk for fiscal year 2017 earnings, he also cut his 12-month price target for the stock from $80 to $44, suggesting 10.44% downside potential on the stock’s previous close. Mr. Shah has also lowered his earnings per share estimates for 2017 and 2017. He explained that he did it due to slower-than-expected ramp bookings, probable halt in demand before the series 5 ramp, and expected increase in pricing pressure due to aggressive bidding from developers in global segments. Due to these reasons, he has cut his 2017 EPS estimate to $1.5, against the Street’s $3.18 estimate, and has also reduced his 2018 forecast to $2.5, compared to the consensus of $3.98. “Even though FSLR remains one of the best run companies in our coverage, we believe it would be difficult for management to grow earnings amidst some of the expected near term headwinds,” he said. The stock was down 6.39% at $45.99 at 10:32 AM EDT Thursday. The next support would be at the $45.46 and the $44.55 levels. At $47.04 the stock would show resistance. The consensus, as on Thomson Reuters, has six Strong Buy, six Buy, and 10 Hold ratings on First Solar. It also has a 12-month consensus price target of $72.90 on the stock, reflecting 48.38% upside potential over the last closing price. First Solar stock has been hit following the Brexit, and is continued to be negatively impacted due to the weakened Euro after this decision. However, it remains prepared to tackle these problems as it has improved sales and profits even with low-priced modules. The company’s sales are expected to improve even further as its pipeline remains strong so far and is said to see to an additional 3.1 GW this year. Read more: http://www.thecountrycaller.com/740...lr-downgraded-to-hold-pt-cut-to-44-heres-why/
Big beat for FSLR. EPS beat by .32 and guidance is up to 4.20 - 4.50 (was 4.10 - 4.50) http://ibankcoin.com/flyblog/2016/08/03/fslr-spikes-on-earnings-beat/ Virgin Gap that hasn't been filled back around 59-60 The sell climax in early July flushed out of weak longs and trapped shorts late to the part There is some initial horizontal resistance around 51.17. This must be broken and held for support before any upside move can proceed.
In Feb, Goldman put "Buy" on this stock near 60. It ran up to 72+ on that day. That was to unload their inventory on chumps.
