Analyst Cuts Solar Sector Before First Solar Earnings (FSLR, SPWR, STP, TSL)
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…
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
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
