First Solar 2nd-quarter earnings rise sharply

The company provided EPS guidance of $3.30-3.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.27, MarketBeat reports.

In the past 52 weeks, shares of Nashville, Tennessee-based company have traded between a low of $47.68 and a high of $73.83 and are now at $77.25.

First Solar, Inc. (FSLR:NASDAQ) witnessed a decline in the market cap on Monday as its shares dropped 1.38% or 0.61 points. 1,930,359 shares of the company’s stock were exchanged. This was shown to be an increase of $427 million from the first quarter of 2015.

As many as 13 brokerage firms have rated First Solar (NASDAQ:FSLR) at 2.31. (FSLR) on Tuesday reported second-quarter earnings of $94.5 million. Revenues increased 154.3% from last year to $707.7 million. The online marketplace operator reported Q2’15 EPS of ($0.07) per share vs. ($0.08) consensus on $61.4 million in revenue, up 44.5% from $42.51 million a year earlier. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $4.98.

A number of research firms have recently commented on FSLR. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of First Solar in a research report on Tuesday. In a research note released to the investors, JP Morgan maintains its rating on Canadian Solar Inc. Goldman Sachs began coverage on First Solar in a research report on Tuesday, July 14th.

In other news, Director Michael T. Sweeney bought 4,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $221,200.00. The shares were sold at an average price of $44.27, for a total value of $420,432.19. The disclosure for this sale can be found here. 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. The Company is a thin-film PV solar module manufacturer and a PV solar module manufacturer. 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. Its systems business involves the sale of its solar modules coupled with the engineering, procurement and construction of the solar PV power plant.