NEW YORK (TheStreet) -- First Solar
(FSLR - Get Report) stock is gaining in post-market trading after beating first-quarter estimates on its top- and bottom-line.
After the bell, shares had gained 2.9% to $68.56.
The solar energy developer reported net income of $1.10 a share, 54 cents higher than analysts polled by Thomson Reuters anticipated. Revenue of $950.1 million was nearly 26% higher year over year and exceeded forecasts of $837.95 million.
TheStreet Ratings team rates FIRST SOLAR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FIRST SOLAR INC (FSLR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow."
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