Shares of First Solar, Inc. (NASDAQ:FSLR) escalated over 45% on Tuesday following the firm anticpates 2013 earnings and revenue exceeded Wall Street forecasts, in part for the reason that it will begin recognizing revenue from a huge California power plant current year.
The U.S. solar panel maker predicts 2013 net sales of $3.8B to $4B and earnings a share of $4 to $4.50, excluding one-time items.
According to Thomson Reuters I/B/E/S, on average Wall Street analysts had been predicting revenue of $3.122B and earnings per share of $3.51.
First Solar reported that it would recognize regarding one third of the revenue from its 550MW Desert Sunlight project in Riverside county, California, current year. That plan is being built by First Solar other than is owned by NextEra Energy, General Electric and Japan’s Sumitomo.
First Solar, Inc. (NASDAQ:FSLR) stock hit highest price at $41.00, beginning with a price of $27.14 and reported increased +45.53% to the closed at $39.35 with day range of $26.76-$41.00. The total market capitalization remained $3.43 billion, total volume held in the session was 40.17 million shares surprisingly higher than its average volume of 5.15 million shares.
To check the Stocks ups and downs, FSLR last week stock price volatility remained 14.23% and month was at 6.40%. FSLR generated revenue of 3.37 billion in the following twelve months income of -$96.34 million. The Company showed a negative -2.86% in the net profit margin and in addition to in its operating margin which remained -1.12%. Company’s annual sales growth for the past five year was 46.22%.
The FSLR past twelve months price to sales ratio was 1.02 and price to cash ratio remained 3.42. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained SunPower Corporation (NASDAQ:SPWR)’s P/S 0.76% P/C 4.02%, Himax Technologies, Inc. (ADR) (NASDAQ:HIMX)’s P/S 1.39% P/C 7.40%, NVIDIA Corporation (NASDAQ:NVDA)’s P/S 1.82% P/C 2.09%, Altera Corporation (NASDAQ:ALTR)’s P/S 5.96% P/C 3.45%.
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