FY2024 EPS Estimates for First Solar Lowered by Analyst

First Solar, Inc. (NASDAQ:FSLR) – Equities research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for First Solar in a research note issued on Tuesday, November 19th. Zacks Research analyst A. Dutta now expects that the solar cell manufacturer will earn $13.07 per share for the year, down from their previous estimate of $13.53. The consensus estimate for First Solar’s current full-year earnings is $13.16 per share. Zacks Research also issued estimates for First Solar’s Q4 2024 earnings at $4.71 EPS, Q1 2025 earnings at $3.78 EPS, Q2 2025 earnings at $4.60 EPS, Q4 2025 earnings at $6.27 EPS, FY2025 earnings at $18.46 EPS, Q1 2026 earnings at $4.35 EPS and FY2026 earnings at $22.48 EPS.

FSLR has been the topic of several other research reports. 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, October 30th. Barclays cut their price target on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Clarkson Capital assumed coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Price Performance

FSLR opened at $186.05 on Thursday. The firm has a 50-day moving average price of $212.65 and a 200-day moving average price of $225.35. First Solar has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $2.50 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis.

Institutional Investors Weigh In On First Solar

Institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its position in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares during the last quarter. Davis Investment Partners LLC increased its position in First Solar by 0.6% during the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 49 shares in the last quarter. Cambridge Trust Co. boosted its stake in shares of First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after purchasing an additional 50 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its position in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

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.