First Solar, Inc. (NASDAQ:FSLR) Expected to Announce Quarterly Sales of $594.71 Million

Analysts predict that First Solar, Inc. (NASDAQ:FSLRGet Rating) will announce $594.71 million in sales for the current quarter, Zacks reports. Twelve analysts have provided estimates for First Solar’s earnings. The highest sales estimate is $670.00 million and the lowest is $438.50 million. First Solar posted sales of $629.18 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.5%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that First Solar will report full-year sales of $2.50 billion for the current fiscal year, with estimates ranging from $2.40 billion to $2.68 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.33 billion, with estimates ranging from $3.02 billion to $3.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow First Solar.

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

Several research analysts have commented on FSLR shares. Robert W. Baird upped their price objective on shares of First Solar from $91.00 to $98.00 in a report on Friday, April 29th. TheStreet lowered shares of First Solar from a “b-” rating to a “c+” rating in a research note on Wednesday, February 16th. UBS Group decreased their price target 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. Roth Capital increased their price target on shares of First Solar from $78.00 to $85.00 in a research note on Friday, April 29th. Finally, StockNews.com started coverage on shares of First Solar in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.83.

In other First Solar news, insider Kuntal Kumar Verma sold 2,219 shares of the firm’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 transaction of $183,267.21. Following the sale, the insider now owns 2,490 shares in the company, valued at approximately $205,649.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R Craig Kennedy sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $71.46, for a total transaction of $42,876.00. The disclosure for this sale can be found here. In the last three months, insiders sold 26,849 shares of company stock worth $2,051,947. 0.55% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in FSLR. FMR LLC raised its position in shares of First Solar by 10,102.9% during the first quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock valued at $5,164,000 after buying an additional 96,786 shares during the last quarter. Morgan Stanley grew its holdings in shares of First Solar by 150.2% in the second quarter. Morgan Stanley now owns 815,200 shares of the solar cell manufacturer’s stock valued at $73,785,000 after purchasing an additional 489,336 shares in the last quarter. AlphaCrest Capital Management LLC grew its holdings in shares of First Solar by 31.5% in the third quarter. AlphaCrest Capital Management LLC now owns 6,036 shares of the solar cell manufacturer’s stock valued at $576,000 after purchasing an additional 1,445 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of First Solar by 9.4% in the third quarter. American Century Companies Inc. now owns 5,687 shares of the solar cell manufacturer’s stock valued at $543,000 after purchasing an additional 487 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of First Solar by 14.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 8,598 shares of the solar cell manufacturer’s stock valued at $821,000 after purchasing an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.

Shares of NASDAQ FSLR opened at $66.04 on Thursday. The company has a current ratio of 4.07, a quick ratio of 2.93 and a debt-to-equity ratio of 0.04. First Solar has a 12 month low of $59.60 and a 12 month high of $123.13. The firm has a market capitalization of $7.04 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 15.19 and a beta of 1.38. The firm has a fifty day simple moving average of $74.48 and a two-hundred day simple moving average of $81.99.

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.

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

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