Investing
Analyst Cuts Solar Sector Before First Solar Earnings (FSLR, SPWR, STP, TSL)
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First Solar, Inc. (NASDAQ: FSLR) is set to report earnings on Tuesday. After one analyst downgrade late last week, now we have another First Solar analyst downgrade that is part of a sector call. Cowen & Co. downgraded First Solar to Neutral from Outperform. There were cuts in at least three other solar stocks:
SunPower Corporation (NASDAQ: SPWR) Cut to Neutral from Outperform.
Suntech Power Holdings (NYSE: STP) Cut to Neutral from Outperform.
Trina Solar Limited (NYSE: TSL) Cut to Neutral from Outperform.
Here is the preview for First Solar, Inc. (NASDAQ: FSLR) earnings due on Tuesday afternoon: Thomson Reuters has estimates of $1.55 EPS and $782.22 million in revenue; next quarter estimates are $0.77 EPS and $789.3 million in sales. For 2012, estimates are for earnings top drop on sales growth of 31% to $3.78 billion. This just represents the climate for an expectation that margins will compress and compress and shares are down about 75% or more from the 52-week high.
JON C. OGG
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