FY2024 EPS Estimates for First Solar Cut by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Research analysts at Roth Capital lowered their FY2024 earnings per share (EPS) estimates for First Solar in a note issued to investors on Sunday, February 23rd. Roth Capital analyst P. Shen now anticipates that the solar cell manufacturer will post earnings of $12.60 per share for the year, down from their previous forecast of $13.02. The consensus estimate for First Solar’s current full-year earnings is $13.05 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.24 EPS.

A number of other brokerages also recently issued reports on FSLR. Evercore ISI dropped their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Barclays cut their target price on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Buy” and an average target price of $276.38.

First Solar Price Performance

NASDAQ FSLR opened at $152.91 on Tuesday. First Solar has a one year low of $141.76 and a one year high of $306.77. The stock has a 50-day moving average of $175.36 and a 200 day moving average of $199.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.19 and a beta of 1.47.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently bought and sold shares of FSLR. Strengthening Families & Communities LLC bought a new stake in First Solar during the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC raised its position in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in shares of First Solar during the fourth quarter worth $53,000. 92.08% of the stock is owned by institutional investors.

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.