2 Stocks Slump to 52-Week Lows: First Solar, WebMD

NEW YORK ( TheStreet) -- First Solar ( FSLR) and WebMD ( WBMD) sank to 52-week lows on Wednesday.

First Solar

"Although management seems to be taking the right steps by closing highercost manufacturing locations, controlling overall operating costs and placing more emphasis on creating demand in new/sustainable markets, we still see headwinds to shares in the current scenario," Deutsche Bank analysts wrote in an April 24 report. "A more appropriate value creating move by management would likely be to sell the current project pipeline to a consortium of strategic investors, in our view. Until management addresses some of the current investor concerns, we expect shares to remain under pressure. Lower price target to $17. Maintain Hold."

Shares of First Solar hit a 52-week low on Wednesday of $17.65. The stock's 52-week high of $142.22 was set on June 30.

First Solar trades at an estimated price-to-earnings ratio for next year of 4.51 times; the average for renewable energy equipment companies is 8.48. For comparison, SunPower ( SPWR) has a higher forward P/E of 11.73.

Twenty-seven of the 39 analysts who cover First Solar rated it hold. Six analysts gave the stock a buy rating and another six rated it sell.

The stock has fallen 46.72% year to date.

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WebMD

The health information services company reported a first-quarter loss Tuesday of $7.8 million, or 14 cents a share, a reversal from year-earlier earnings of $19.5 million, or 32 cents a share.

"We view WebMD as a category leader well positioned longer term to capitalize ondigital marketing share shift, audience scale, and a broad range of advertising formats," Wells Fargo analysts wrote in a report Wednesday. "Near term, we see believe pharma sector softness will continue and that competition for non-prescription and non-endemic advertising remains fierce."

Shares of WebMD hit a 52-week low on Wednesday of $22.12. The stock's 52-week high of $58.55 was set one year ago.

WebMD's forward P/E is 29.89; the average for publications is 22.02.

Eight of the 11 analysts who cover WebMD rated it hold. Two analysts gave the stock a sell rating and one rated it buy.

The stock has fallen 40.76% year to date.

-- Written by Alexandra Zendrian

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