NEW YORK (TheStreet) -- First Solar (FSLR) - Get Report shares have been halted following the release of 2015 fourth quarter earnings that beat Wall Street's forecasts. The stock closed down 3.80% to $61.79 today.
After the market close, the solar energy company reported adjusted earnings of $1.60 per share, more than double analysts' estimates for earnings of 77 cents per share.
Revenue was $942.3 million for the quarter, above analysts' projections for revenue of $929 million.
However, both earnings and revenue declined from the year-ago period. For the 2014 fourth quarter, First Solar had reported earnings of $1.90 per share on revenue of $1.01 billion.
"We enter 2016 with tremendous technology, a strong pipeline and an ongoing commitment to achieve the long-term objectives we have communicated to our investors," CEO Jim Hughes said in a statement.
The company maintained its full-year earnings per share guidance for a range between $4 and $4.50. First Solar lowered its 2016 revenue forecast to a range between $3.8 billion and $4 billion from its previous expectation for revenue between $3.9 billion and $4.1 billion.
Separately, TheStreet Ratings Team rates the stock as a "buy" with a ratings score of B.
First Solar's strengths include its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income.
You can view the full analysis from the report here: FSLR
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.