56.00 +0.72 (1.30%)
After hours: 7:50PM EDT
|Bid||55.28 x 2200|
|Ask||55.28 x 800|
|Day's Range||55.06 - 56.76|
|52 Week Range||36.51 - 69.24|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||244.60|
|Earnings Date||Oct 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||76.64|
US-headquartered First Solar, Inc. (FSLR) announced today that D. E. Shaw Renewable Investments (DESRI) is the acquirer of the Cove Mountain and Cove Mountain 2 projects in Iron County, Utah. The acquisition of the two projects, the sales of which were previously disclosed by First Solar and which total 180 megawatts (MW)AC in capacity, nearly doubles DESRI’s portfolio of First Solar-developed projects to over 360MWAC. Cove Mountain and Cove Mountain 2, both under construction with completion expected in the second and fourth quarters of 2020, have long-term Power Purchase Agreements (PPAs) with PacifiCorp on behalf of Facebook, providing Facebook’s data center operations with new solar resources.
Solar panel maker First Solar (FSLR) plans to report its Q3 earnings on October 24. Analysts expect the company to report earnings per share of $1.19.
First Solar (FSLR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
ReneSola (SOL) reported preliminary unaudited results for the third quarter 2019; Revenue improves courtesy of its project sale and rising usage of solar panels globally.
First Solar, Inc. (FSLR) will report financial results for the third quarter ended September 30, 2019, after the market closes on Thursday, October 24, 2019. The Company will hold its quarterly conference call to discuss these results and the latest outlook for 2019 at 4:30 p.m. ET. Investors may access a live webcast of this conference call by visiting investor.firstsolar.com.
Solar stocks highlighted the top-rallied sectors this year. After hitting multiyear highs, many solar stocks have fallen as much as 40% since August.
ReneSola (SOL) announces divestiture of 13.9 MW of Hungarian portfolio of small-scale DG projects to Obton, the company is poised to gain from rising usage of solar panels on a global scale.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
The former CEO of Pittsburgh’s fourth largest law firm is now deputy general counsel for litigation at a company based in Tempe, Arizona. Timothy Ryan, who led Eckert Seamans Cherin & Mellott LLC for 12 years before stepping down in March 2017, has joined First Solar Inc. He departed the firm he joined in 1986 last week to take on the next chapter in his career. Ryan said he had worked with First Solar for many years and re-engaged with the company after leaving Eckert’s helm.
Canadian Solar (CSIQ) is set to construct three solar projects in Brazil, wherein its high efficiency bifacial BiHiKu modules will be installed.
Solar stocks have had a great run this year. Strong demand, falling costs, and higher corporate investments have supported these renewables in 2019.
Co-host Dennis Dick, who is a shareholder of First Solar around the $60 area, said he intends to use the unexpected rally to exit or reduce the size of his position. Citigroup is hoping to a hitch a ride in a potential rally in Uber Technologies Inc (NYSE: UBER): the sell-side firm upgraded the ride-hailing company from Neutral to Buy with a $45 price target. Traders and investors looking to get in on the cheap were encouraged to stalk Friday's closing price as a potential support point after Uber traded higher in the premarket session.
First Solar and SunPower may benefit from a move by the United States Trade Representative. The agency closed a tariff exemption on Friday for so-called “bifacial” solar panels.
Lackluster economic data and low expectations for U.S.-China trade talks, set to resume Thursday, are weighing on investors’ moods.
The Trump administration is eliminating an exemption that allows overseas competitors to avoid 25% tariffs on certain solar panels.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The Trump administration dealt a fresh blow to renewable energy developers on Friday by stripping away an exemption the industry was counting on to weather the president’s tariffs on imported panels.The U.S. Trade Representative said Friday it was eliminating a loophole granted about four months ago for bifacial solar panels, which generate electricity on both sides. They’ll now be subject to the duties Trump announced on imported equipment in early 2018, currently at 25%. The change takes effect Oct. 28.The exclusion had been a reprieve for the solar industry, which lost thousands of jobs and put projects on ice as a result of the tariffs. Some panel manufacturers had already begun shifting supply chains to produce more bifacial panels. Stripping the exemption represents a setback to developers building big U.S. solar projects. American panel makers First Solar Inc. and SunPower Corp. will meanwhile regain an edge on foreign competitors.“The solar tariffs are back,” Tara Narayanan, an analyst at BloombergNEF, said in an interview Friday. “U.S. solar developers cannot buy products with lower costs and higher output as they briefly thought they could.”First Solar, the largest U.S. solar panel maker, and SunPower both gained in after-markets trading late Friday.What BloombergNEF Says“The withdraw of tariff exemption for bifacial will cool down its popularity in the U.S. a little, but not stop the rise of the technology, which introduces improved economics even without tariff exemption.”-- Xiaoting Wang, solar analystDevelopers that have used bifacial panels and stand to take a hit from ending the exclusion include Renewable Energy Systems Americas Inc. and Swinerton Inc.While bifacial panels accounted for just 3% of the solar market last year, BloombergNEF had projected a swift ramp-up in production as manufacturers tried to insulate themselves from U.S. tariffs.The trade group Solar Energy Industries Association fought to preserve the exemption, saying bifacial technology held “great promise for creating jobs, right here in America.”“We’re obviously disappointed,” the group’s general counsel, John Smirnow, said Friday. “We look forward to making sure the bifacial exemption gets a fair hearing” during the solar tariff’s mid-term review process, he said. The U.S. Trade Representative said in its filing that the exclusion would’ve probably resulted in “significant increases in imports of bifacial solar panels” that would’ve rivaled domestically produced ones. SunPower, based in San Jose, California, opposed the exemption without a cap, saying that it would otherwise defeat the purpose of the tariffs. “It just means everyone is going to make a bifacial,” the company’s chief executive officer, Tom Werner, said in a Sept. 23 interview.\--With assistance from Joe Ryan and Ben Livesey.To contact the reporters on this story: Brian Eckhouse in New York at firstname.lastname@example.org;Christopher Martin in New York at email@example.com;Ari Natter in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Joe Ryan, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Whether from conventional or renewable sources, energy is the world’s truly must-have commodity. Without it, the global economy would simply halt. This bottom-line absolute necessity gives a resilience to energy companies that strengthens them in the markets and attracts positive attention from Wall Street’s analysts.“We believe favorable technicals, improving fundamentals with stabilizing business cycle, and ongoing geopolitical tensions in the Middle East could help redirect flows into this universally hated and cheap [energy] sector,” said JP Morgan's chief U.S. equity strategist, Dubravko Lakos-Buja.We’ve opened up TipRanks’ Stock Screener to find three Strong Buy energy stocks that combine positive analyst endorsements with high upside. Each represents a different segment of the energy sector, and each shows how an energy company can leverage the unique features of a particular niche to boost the stock and benefit shareholders. Enphase Energy: 41% UpsideThe market leader in microinverter solar technology, Enphase (ENPH – Get Report) has shipped over 10 million microinverters to the North American, European, and Australian residential and commercial markets. Solar energy – clean and infinite – is widely considered a major source of future commercial power generation, and microinverters are an important part of a solar system. The devices convert the direct current power from a photovoltaic panel into the alternating current used on electrical grids. Enphase was the first company to set up successful, large-scale microinverter production. Year-to-date, Enphase stock is up a whopping 370%.The company’s leading role in its niche has prompted JPMorgan’s 4-star analyst Mark Strouse to initiate coverage of the stock with a 'buy' rating and a $32 price target. He says, “We are encouraged by ENPH’s fundamental outlook, driven by industry tailwinds (unit growth in solar, MLPE share gains against traditional string inverters, residential energy storage penetration), as well as company-specific tailwinds (new products, improving margins and cash flow, international expansion opportunities).” Strouse’s price target suggests room for an additional 43% upside in the coming 12 months. (To watch Strouse's track record, click here)Strong products and a clear path to monetization are a firm foundation for any company, and Gus Richard, of Northland Securities, sees plenty of both at Enphase. In his recent research note on the company, Richard says, “ENPH product offerings are shifting away from components to energy management solutions. The Company is developing software and hardware that allow a consumer to optimize its production and usage of electricity with the introduction of its Ensemble solution that incorporates its new inverter IQ 8 and Encharge its battery solution. The Ensemble solution will expand the Company’s revenue opportunity per household from $2K to $10K.” Richard’s $40 price target implies an impressive upside potential of 79%. Overall, Enphase has a Strong Buy from the analyst consensus. In the last three months, 8 top analysts have reviewed this stock, and all have given buy ratings. Shares are currently selling for $22, and the $31 average price target suggests an upside of 41%. (See ENPH's price targets and analyst ratings on TipRanks) First Solar: 31% UpsideWhere Enhpase focuses on inverter tech, First Solar (FSLR – Get Report) manufactures actual photovoltaic panels that collect solar radiation for energy conversion. The company supplies large-scale installations for solar power plants, and offers service across the full life cycle of the panels – from purchase and financing, to construction, to maintenance and recycling. First Solar is also a leader in cadmium telluride semiconducting panels, and is notable as the first major solar panel producer to push its production cost below $1 per watt of power. The company’s stock is up 37% this year, and has recorded a 49% three-year gain. 4-star analyst Jon Windham, of UBS, reiterated his buy rating on FSLR earlier this month. Citing the company’s move away from direct participation in engineering, procurement, and construction (EPC), Windham writes, “The switch to the larger industry standard sizing of the Series 6 module is key to enabling FSLR to effectively utilize third party EPC. In our view, this transition will give FSLR more flexibility in the development process and enable increased management focus on higher margin Series 6 module manufacturing operations.” Windham’s price target of $80 indicates a 36% upside potential.FSLR’s Strong Buy consensus rating is derived from 5 buys and 1 hold given in the past three months. The stock is selling for $58, and the average price target of $76.50 suggests a robust upside potential of nearly 31%. (See FSLR's price targets and analyst ratings on TipRanks) Parsley Energy: 41% UpsideLast month, Parsley (PE – Get Report) beat the earnings forecast, showing 32 cents EPS as opposed to the estimated 31. Q2 revenues came in at $498.54 million. Both EPS and revenue were well ahead of the previous year’s Q2. Riding high on the earnings optimism, Parsley management announced the company’s first dividend, a 3-cent payment to be disbursed quarterly.Parsley built its profitable business on the Texas oilpatch. The company is engaged in exploration and drilling in the Permian basin of West Texas, currently the richest oil producing area the United States.Writing from Piper Jaffray, Kashy Harrison sums up Parsley’s situation: “Parsley's execution this year has been solid. Following the indication of a Q3 production beat and the initiation of a dividend, PE has achieved a multiple inline with larger Permian players… We believe PE is well positioned to exit 2019 favorably. Accordingly, with 2019 coming to a close, investors are increasingly exploring 2020 probabilities… We believe PE has the potential to deliver around 10% production growth…” Harrison’s $22 price target implies an upside of 29%.Neal Dingmann, of SunTrust Robinson, believe that this oil company is on the way up. He writes, “We continue to forecast Parsley to growth ˜2%+/qtr and become FCF positive this month while remaining FCF positive in 2020 even if oil prices fall as low as ~$51/bbl… We believe the company is in a position to generate doubledigit exit-to-exit oil production growth in 2020 while generating $200MM+ in free cash flow.” His price target, $23, indicates his confidence in a 35% upside for PE.Parsley holds a Strong Buy rating from the analyst consensus, based on 10 buys and 2 holds assigned over the past three months. At just $17 per share, PE has the lowest cost of entry of the stocks in this list. The average price target, $24, suggests a 41% upside. (See PE's price targets and analyst ratings on TipRanks)
Almost all solar stocks fell sharply on September 26. First Solar (FSLR) fell about 7% yesterday while this year’s top gainer, Enphase Energy, fell 7.5%.