First Solar (FSLR) has just reported earnings results and they are impressive at least compared to very conservative analyst estimates. The company smashed EPS estimates of 1.49/share and the whisper number of 1.42/share by posting 1.65/share, but that is a decrease from last quarter and just a hair above the year ago quarter. Revenues were more impressive at $640 million which is a nearly 50% bump from the year ago quarter and 30% higher than … Read the rest
Category Archives: Solar Energy
Brigantine Advisors Upgrades First Solar (FSLR) To Buy Ahead Of Earnings
The analysts are tripping over themselves to make a call on First Solar (FSLR) ahead of earnings tonight. Add Brigantine Advisors to that list. The firm has upgraded First Solar (FSLR) to Buy and set the price target at $145 per share. Hat tip to Street Insider for the following analyst comment:
“News out of the solar sector has generally been negative over the last few months: a mostly inconclusive climate summit in Copenhagen, delays … Read the rest
GT Solar (SOLR) Gets $20 Million Solar Ingot Furnace Deal In China
GT Solar (SOLR) has announced a $20 million order from Jiangxi Sornid Hi-Tech for GT Solar’s GT-DSS450 ingot growth furnaces and ancillary equipment and services. Revenues are expected to be recognized in future quarters.
SOLR CEO Tom Gutierrez commented on the growth in China, saying, “We are seeing an increase in bookings for our GT-DSS450 furnaces in China as customers begin to add new production capacity to position themselves for the next phase of growth … Read the rest
Broadpoint AmTech Maintains Buy Rating On First Solar (FSLR) Ahead Of Earnings
I posted earlier about FBR Research and Piper Jaffray maintaining their ratings on First Solar (FSLR) ahead of earnings and Broadpoint is chiming in with a maintain as well. They have a Buy rating and $165 price target on FSLR and are holding to it through earnings on Thursday. Hat tip to Street Insider for the following analyst comment:
“FSLR is scheduled to report 4Q09 results on Thursday, after the market close. We anticipate healthy … Read the rest
Suntech (STP) Supplies Panels To Power Lebanese Schools
In what is Lebanon’s largest social initiative to date, Suntech has supplied its local partner Asaco General Trade & Contracting with solar panels that will supply power to 19 remote Lebanese schools. The schools were previously depended on the power grid, but because they were located in such remote areas, they suffered through frequent blackouts that made it difficult for the students to learn. To help, Asaco created customized systems for each school using Suntech … Read the rest
Piper Jaffray Reiterates Overweight On First Solar (FSLR) Ahead Of Earnings
Yesterday FBR Research reiterated its Underperform rating on First Solar (FSLR) and this morning Piper Jaffray is holding firm with its own rating of Outperform. The firm has a $127 price target. Hat tip to Street Insider for the following analyst comment:
“Based on strong sector fundamentals, and channel checks with customers, we anticipate an in-line to better 4Q09 given sector strength and sold out conditions. We anticipate reiterated and unchanged 2010 guidance noting FSLR … Read the rest
FBR Research Maintains Underperform On First Solar (FSLR) Heading Into Earnings
Earlier today FBR Research came out with an update on its rating of First Solar (FSLR) and the firm isn’t budging. It maintains an Underperform rating and a $100 price target heading into earnings on Thursday.
Hat tip to Street Insider for the following analyst comments:
“We expect First Solar to meet or exceed our in-line with consensus estimates for 4Q09 when it reports on Thursday after the close. Due to demand pull-in in Germany … Read the rest
Constellation Energy (CEG) Commits $90 Million To Commercial Solar Projects
Constellation Energy (CEG) announced today that it will commit $90 million to the development of commercial solar projects. In order to capitalize on the benefits of government funding Constellation will only fund project that begin before mid 2010 and are at least 500kW. About $18 million in funds have been committed to projects that will begin development soon in Maryland and New Jersey.
Michael Smith, VP of Green Initiatives For CEG, said, “Constellation Energy’s … Read the rest
Dustin Shindo Steps Down As Hoku (HOKU) CEO
Hoku just announced that effective March 31, Dustin Shindo will step down as Hoku chairman, president and CEO, although he will continue to serve the company in advisory position as a consultant. Shindo advised that he was stepping down for “personal reasons.”
Mr. Wei Xia, a member of Hoku’s board of directors and vice general manager of Baoding Tianwei Group, will be taking over the role of chairman of the board. Scott Paul, Hoku’s chief … Read the rest
Time For Akeena Solar (AKNS) To Deliver, Still No Sign Of Profitability
As expected, Akeena Solar (AKNS) delivered another quarterly loss this morning posting a .10/share loss on revenues of $7 million. They missed analyst estimates on both. After many quarters of losses and stagnant revenues, it’s time for the company to deliver and maybe that begins next quarter. CEOs always put a positive spin on the company and hype up all the deals they have and increasing distribution partners.
CEO Barry Cinnamon is no exception, discussing … Read the rest