Notable News to Watch: First Solar, Inc. (NASDAQ: FSLR)
On 28 Oct 2019, First Solar, Inc. (NASDAQ: FSLR) changed 1.10% to recent value of $53.24. The stock transacted 2332012 shares during most recent day however it has an average volume of 1460.32K shares. It spotted trading -23.10% off 52-week high price. On the other end, the stock has been noted 45.82% away from the low price over the last 52-weeks.
First Solar, Inc. (FSLR) recently reported financial results for the third quarter ended September 30, 2019. Net sales for the third quarter were $547M, a decrease of $38M from the previous quarter, primarily Because of lower systems revenue from project sales in the United States, partially offset by higher module sales volume.
The Company stated third quarter net income per share of $0.29, contrast to a loss per share of $(0.18) in the previous quarter.
Cash, restricted cash and marketable securities at the end of the third quarter reduced to $1.6B from $2.1B at the end of the previous quarter, primarily as a result of higher expenditures for the development and construction of project assets and continued capital investments in Series 6 manufacturing capacity.
“We’re happy with the ongoing progress of our Series 6 technology platform,” stated Mark Widmar, CEO of First Solar. “Capacity utilization, throughput and yield continue to improve, resulting in record Series 6 production of about 1 GW in the quarter.”
The guidance figures presented above are subject to a variety of assumptions and estimates. Investors are encouraged to listen to the conference call and to review the accompanying materials, which contain more information about First Solar’s third quarter financial results and 2019 guidance.
FSLR has a gross margin of 12.30% and an operating margin of -4.50% while its profit margin remained -0.30% for the last 12 months. Its earnings per share (EPS) expected to touch remained -45.70% for this year while earning per share for the next 5-years is expected to reach at 37.47%. The company has 105.39M of outstanding shares and 75.79M shares were floated in the market. According to the most recent quarter its current ratio was 4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.31% from the mean of 20 days, -11.95% from mean of 50 days SMA and performed -9.07% from mean of 200 days price. Company’s performance for the week was -5.50%, -8.93% for month and YTD performance remained 25.40%.
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