First Solar (FSLR) Reverses Gains Despite Earnings Win

NEW YORK (TheStreet) -- First Solar (FSLR) stock reversed earlier gains Wednesday after the energy company reported first-quarter earnings exceeding analysts' estimates.

Shortly after market open, shares moved 1.2% lower to $66.63, reversing earlier pre-market gains. 

Over the three months to March, the company earned $1.10 a share and revenue of $950.1 million. Analysts surveyed by Thomson Reuters expected earnings of 56 cents a share and revenue of $837.95 million. 

Also See: First Solar Burns Bright as Profits Nearly Double Forecasts

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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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