FY2024 EPS Estimates for First Solar Lowered by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Analysts at Roth Capital cut their FY2024 earnings estimates for First Solar in a research report issued on Sunday, February 23rd. Roth Capital analyst P. Shen now expects that the solar cell manufacturer will post earnings per share of $12.60 for the year, down from their prior forecast of $13.02. The consensus estimate for First Solar’s current full-year earnings is $13.05 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.24 EPS.

Other analysts have also recently issued reports about the company. Citigroup lowered their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird lowered their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Royal Bank of Canada decreased their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $268.00.

First Solar Stock Performance

NASDAQ:FSLR opened at $156.84 on Tuesday. First Solar has a 52-week low of $144.28 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. The firm’s 50-day moving average is $174.00 and its 200-day moving average is $199.08.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its holdings in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Field & Main Bank lifted its holdings in shares of First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after buying an additional 55 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares in the last quarter. Demars Financial Group LLC raised its position in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after buying an additional 56 shares in the last quarter. Finally, Doliver Advisors LP raised its holdings in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after acquiring an additional 56 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

About First Solar

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.