Q2 2024 EPS Estimates for First Solar, Inc. Decreased by Analyst (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) – Equities research analysts at Roth Capital reduced their Q2 2024 earnings per share estimates for First Solar in a research report issued on Thursday, May 2nd. Roth Capital analyst P. Shen now expects that the solar cell manufacturer will post earnings per share of $2.98 for the quarter, down from their prior estimate of $3.28. The consensus estimate for First Solar’s current full-year earnings is $13.55 per share. Roth Capital also issued estimates for First Solar’s Q3 2024 earnings at $3.85 EPS, Q4 2024 earnings at $4.67 EPS, Q2 2025 earnings at $5.57 EPS, Q3 2025 earnings at $6.47 EPS, FY2025 earnings at $23.00 EPS and Q1 2026 earnings at $4.42 EPS.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. raised their price target on First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays raised their price target on First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Susquehanna restated a “positive” rating and set a $258.00 price target on shares of First Solar in a research report on Friday, April 5th. Jefferies Financial Group raised their price target on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Price Performance

First Solar stock opened at $191.55 on Monday. First Solar has a one year low of $129.21 and a one year high of $232.00. The business has a fifty day moving average price of $166.57 and a 200-day moving average price of $158.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 2.92. The firm has a market capitalization of $20.50 billion, a P/E ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. During the same period last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 44.8% on a year-over-year basis.

Insider Activity

In other First Solar news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the sale, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 in the last ninety days. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar during the fourth quarter valued at approximately $27,000. Estabrook Capital Management purchased a new position in First Solar during the third quarter valued at approximately $29,000. Baystate Wealth Management LLC purchased a new position in First Solar during the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC purchased a new position in First Solar during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.