Boston, MA 10/22/2013 (wallstreetpr) – It can be seen that since Goldman Sachs Group issued a positive rating on First Solar, Inc. (NASDAQ:FSLR), the stock has been on an impressive upward rally. For a stock that traded roughly $49.47 on Wednesday when this rating report was published, FSLR hit a day’s high of $56 yesterday Monday, October 21. And from a market capitalization of $4.83 billion, FSLR clocked roughly $5.22 billion by close of business in the previous trading.
With several analysts having reported on the stock so far, FSLR has a consensus hold at a price target of $35.43. This follows four sell sentiments, 18 hold sentiments and four buy sentiments from researchers studying the company.
In its most recent quarterly data, FSLR reported $0.39 EPS on $520 million revenue. The company reported in a miss of consensus estimate of $0.53 EPS, thus indicating a gap of $0.14. In the similar quarter a year earlier, the solar solutions company realized $1.27 EPS. Its revenue in this last quarter indicates a 45.7% dip compared to a similar period last year. The company is now expected to realize $3.76 EPS in full-year this fiscal year.
FSLR designs, manufactures and sells photovoltaic solar modules featuring advanced thin-film semiconductor technology. The company recently announced an agreement that would see it construct a 250 MW solar power plant in Riverside County of California in what has become to be known as McCoy Solar Energy Project. This project is for NextExtra Energy Resources’ subsidiary.
Relying on its cadmium telluride PV module for this project, FSLR will provide engineering, procurement and construction services. This solar energy project is expected to run between late 2014 and late 2016. At least 2,300 acres of ground has been earmarked for the project which sits northwest of Blythe, California about 13 miles. The solar energy solutions provider has announced.
