FY2024 EPS Estimates for First Solar Lifted by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Stock analysts at Roth Capital upped their FY2024 earnings estimates for First Solar in a research note issued on Tuesday, October 29th. Roth Capital analyst P. Shen now expects that the solar cell manufacturer will post earnings per share of $13.02 for the year, up from their prior forecast of $12.79. The consensus estimate for First Solar’s current full-year earnings is $13.18 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.66 EPS.

Several other research analysts have also recently weighed in on FSLR. Oppenheimer upped their price target on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of First Solar from a “hold” rating to a “sell” rating in a research note on Thursday. Clarkson Capital started coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Evercore ISI reduced their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $281.13.

First Solar Price Performance

Shares of FSLR opened at $204.94 on Friday. The stock has a 50 day simple moving average of $221.68 and a 200 day simple moving average of $223.93. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. The firm has a market capitalization of $21.94 billion, a PE ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 over the last ninety days. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Solar

Hedge funds have recently bought and sold shares of the business. Electron Capital Partners LLC grew its position in shares of First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares in the last quarter. Anomaly Capital Management LP bought a new position in First Solar during the 2nd quarter worth $53,752,000. Finally, International Assets Investment Management LLC lifted its position in shares of First Solar by 24,844.0% during the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after acquiring an additional 216,640 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.