-$0.25 EPS Expected for First Solar, Inc. (NASDAQ:FSLR) This Quarter

Wall Street brokerages expect First Solar, Inc. (NASDAQ:FSLR – Get Rating) to report earnings per share of ($0.25) for the current quarter, Zacks reports. Fourteen analysts have provided estimates for First Solar’s earnings, with the lowest EPS estimate coming in at ($0.70) and the highest estimate coming in at $0.36. First Solar reported earnings per share of $1.96 in the same quarter last year, which suggests a negative year-over-year growth rate of 112.8%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that First Solar will report full-year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.20 to $1.76. For the next year, analysts forecast that the business will post earnings of $2.41 per share, with EPS estimates ranging from $0.64 to $6.20. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for First Solar.

First Solar (NASDAQ:FSLR – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The solar cell manufacturer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.16. First Solar had a return on equity of 8.06% and a net margin of 16.03%. The firm had revenue of $907.32 million for the quarter, compared to analysts’ expectations of $924.98 million. During the same quarter last year, the business earned $1.08 EPS. The company’s quarterly revenue was up 48.9% compared to the same quarter last year.

A number of brokerages recently commented on FSLR. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating and set a $81.00 price target on the stock. in a research report on Monday, January 24th. Evercore ISI initiated coverage on First Solar in a research report on Wednesday, December 22nd. They issued an “in-line” rating and a $107.00 target price on the stock. Robert W. Baird decreased their target price on First Solar from $125.00 to $91.00 in a research report on Wednesday, March 2nd. Credit Suisse Group decreased their target price on First Solar from $88.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 8th. Finally, StockNews.com initiated coverage on First Solar in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Solar presently has an average rating of “Hold” and a consensus price target of $86.45.

In other news, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $81.36, for a total transaction of $48,816.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kuntal Kumar Verma sold 2,219 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $82.59, for a total value of $183,267.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,201 shares of company stock valued at $1,026,631. 0.55% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new stake in First Solar during the fourth quarter worth $26,000. Sageworth Trust Co of South Dakota bought a new stake in First Solar during the fourth quarter worth $29,000. Private Ocean LLC purchased a new position in First Solar in the third quarter worth $38,000. IndexIQ Advisors LLC purchased a new position in First Solar in the fourth quarter worth $49,000. Finally, AdvisorNet Financial Inc boosted its position in First Solar by 62.7% in the fourth quarter. AdvisorNet Financial Inc now owns 610 shares of the solar cell manufacturer’s stock worth $53,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 71.85% of the company’s stock.

Shares of NASDAQ FSLR traded up $0.24 during mid-day trading on Tuesday, reaching $79.10. The company had a trading volume of 1,539,279 shares, compared to its average volume of 1,754,870. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.47 and a current ratio of 4.39. First Solar has a one year low of $61.24 and a one year high of $123.13. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 20.85 and a beta of 1.36. The business’s 50-day simple moving average is $75.16 and its 200 day simple moving average is $89.33.

First Solar Company Profile (Get Rating)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

Read More