$0.32 Earnings Per Share Expected for First Solar, Inc. (NASDAQ:FSLR) This Quarter

Analysts expect that First Solar, Inc. (NASDAQ:FSLRGet Rating) will announce earnings per share of $0.32 for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for First Solar’s earnings, with the highest EPS estimate coming in at $1.74 and the lowest estimate coming in at ($0.60). First Solar posted earnings per share of $0.77 during the same quarter last year, which would suggest a negative year over year growth rate of 58.4%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that First Solar will report full year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.52. For the next fiscal year, analysts expect that the company will report earnings of $2.24 per share, with EPS estimates ranging from $0.64 to $4.53. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow First Solar.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings data on Thursday, April 28th. The solar cell manufacturer reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.16). First Solar had a net margin of 8.68% and a return on equity of 3.68%. The company had revenue of $367.00 million for the quarter, compared to the consensus estimate of $588.73 million. During the same quarter in the previous year, the business earned $1.96 EPS. The company’s quarterly revenue was down 54.3% on a year-over-year basis.

A number of research firms recently weighed in on FSLR. Cowen cut their target price on shares of First Solar from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. JPMorgan Chase & Co. dropped their price objective on shares of First Solar from $83.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd. Morgan Stanley dropped their price objective on shares of First Solar from $63.00 to $62.00 and set an “underweight” rating for the company in a research note on Monday, April 4th. Piper Sandler lifted their price objective on shares of First Solar from $63.00 to $80.00 in a research note on Thursday, April 21st. Finally, UBS Group dropped their price objective on shares of First Solar from $116.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.33.

In other First Solar news, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $71.46, for a total value of $42,876.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 3,211 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $75.19, for a total transaction of $241,435.09. The disclosure for this sale can be found here. Insiders sold 13,201 shares of company stock valued at $1,024,525 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in FSLR. Cullen Frost Bankers Inc. bought a new position in First Solar in the fourth quarter worth about $26,000. Sageworth Trust Co of South Dakota bought a new position in First Solar in the fourth quarter worth about $29,000. Ellevest Inc. raised its holdings in First Solar by 53.3% in the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. Private Ocean LLC bought a new position in First Solar in the third quarter worth about $38,000. Finally, IndexIQ Advisors LLC bought a new position in First Solar in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 75.42% of the company’s stock.

FSLR stock opened at $76.41 on Tuesday. The firm has a fifty day moving average price of $77.07 and a 200 day moving average price of $86.58. First Solar has a fifty-two week low of $61.24 and a fifty-two week high of $123.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.93 and a current ratio of 4.07. The firm has a market cap of $8.14 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 16.43 and a beta of 1.38.

About First Solar (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.

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Earnings History and Estimates for First Solar (NASDAQ:FSLR)

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