Roth Capital Comments on First Solar, Inc.’s FY2024 Earnings (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLRFree Report) – Stock analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for shares of First Solar in a note issued to investors on Thursday, May 30th. Roth Capital analyst P. Shen now forecasts that the solar cell manufacturer will post earnings per share of $13.57 for the year, down from their prior forecast of $13.70. 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 Q4 2024 earnings at $4.91 EPS.

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

Other analysts also recently issued research reports about the company. Oppenheimer lifted their target price on First Solar from $269.00 to $271.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. DZ Bank downgraded First Solar from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research note on Wednesday, May 29th. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $187.00 to $250.00 in a research note on Friday, April 19th. UBS Group boosted their price objective on First Solar from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, Janney Montgomery Scott assumed coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.16.

Check Out Our Latest Research Report on First Solar

First Solar Stock Down 1.8 %

Shares of First Solar stock opened at $271.76 on Monday. The business’s fifty day moving average price is $194.93 and its two-hundred day moving average price is $169.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The company has a market capitalization of $29.09 billion, a P/E ratio of 28.49, a PEG ratio of 0.36 and a beta of 1.37. First Solar has a 1-year low of $129.21 and a 1-year high of $286.60.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after purchasing an additional 105,236 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after acquiring an additional 279,719 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after acquiring an additional 351,540 shares during the last quarter. Wellington Management Group LLP boosted its stake in First Solar by 10.2% during the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after buying an additional 211,755 shares in the last quarter. Finally, Norges Bank acquired a new stake in First Solar during the fourth quarter worth $298,123,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 679 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $108,640.00. Following the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at approximately $2,315,680. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,985 shares of company stock valued at $13,559,316. 0.58% of the stock is currently owned by corporate insiders.

First Solar Company Profile

(Get Free Report)

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.

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

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