Original post:
In early pre-market action the stock is down $4.68 at $160.00.
Tech Trader Daily's Tiernan Ray did the heavy lifting yesterday:
Dan Ries with Collins Stewart reiterates a Buy recommendation on the stock today, writing that his projection of $629 million is below the Street’s estimate, but that’s to be expected given, “the lumpy nature of FSLR’s project revenues.” His EPS estimate for the quarter is $1.75.We'll be updating throughout the day.
Ries is not sure if First Solar will raise its forecast for the year, initially offered back in December. It’s possible, given that the company subsequently received a U.S. Dept of Energy guarantee for a loan for its “Aqua Caliente” project. If First Solar does update the forecast, Ries imagines it’s possible there could be upside potential up to $11 per share this year, versus the formal forecast of $8.75-9.50 the company has put forward.
To review, some other notes have circulated in the last 48 hours as well:
Caris & Co. analyst Ben Pang yesterday reiterated an Above Average rating on FSLR today and says he thinks the company will rise to the occasion and deliver a higher forecast this evening. “The pace of solar projects and installations has continued to improve and FSLR’s improved regional diversity should allow them to capture high value projects around the world,” writes Pang. “We think FSLR will be able to slightly raise full year guidance, but expectations are already high based on improved guidance from competitors.”
Pang is modeling $650 million in Q4 revenue and $1.69 in non-GAAP EPS....MORE
