First Solar: S&P Intraday Laggard
NEW YORK (TheStreet) -- First Solar(FSLR) was the worst-performing stock in the S&P 500 Tuesday morning.
The S&P 500 was losing 0.92 points, or 0.06%, to 1,418.12.
Shares of First Solar declined 4.38% to $23.45. The stock hit a 52-week low Tuesday of $23.33. The stock's 52-week high of $161.40 was set on April 4, 2011.
First Solar has an estimated price-to-earnings ratio for next year of 5.52 times; the average for renewable energy equipment companies is 9.79. For comparison, GT Advanced Tech(GTAT) has a lower forward P/E of 5.16; SunPower's(SPWR) forward P/E is 11.36.
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.
TheStreet Ratings gives First Solar a C- grade and hold rating. The stock has fallen 30.6% year to date.
-- Written by Alexandra Zendrian
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