FY2024 EPS Estimates for First Solar Lifted by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Equities researchers at Roth Capital increased their FY2024 earnings per share estimates for shares of First Solar in a research report issued on Tuesday, October 29th. Roth Capital analyst P. Shen now anticipates that the solar cell manufacturer will post earnings per share of $13.02 for the year, up from their prior estimate of $12.79. The consensus estimate for First Solar’s current full-year earnings is $13.18 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.66 EPS.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $2.50 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. StockNews.com cut First Solar from a “hold” rating to a “sell” rating in a report on Thursday. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Tuesday, October 29th. Wells Fargo & Company reduced their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Stock Up 5.4 %

Shares of FSLR opened at $204.94 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $221.68 and a two-hundred day moving average price of $223.93. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.44. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77.

Insider Activity at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Large investors have recently made changes to their positions in the company. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the third quarter worth $25,000. Atlas Capital Advisors LLC boosted its holdings in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth approximately $36,000. Itau Unibanco Holding S.A. bought a new position in shares of First Solar during the second quarter worth approximately $38,000. Finally, Alta Advisers Ltd acquired a new stake in shares of First Solar in the second quarter valued at approximately $45,000. 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.