First Solar (FSLR) Set to Announce Earnings on Tuesday

First Solar (NASDAQ:FSLR) is scheduled to post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect First Solar to post earnings of $3.30 per share for the quarter. First Solar has set its FY24 guidance at $13.00-14.00 EPS and its FY 2024 guidance at 13.000-14.000 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. On average, analysts expect First Solar to post $13 EPS for the current fiscal year and $21 EPS for the next fiscal year.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $198.47 on Monday. First Solar has a one year low of $129.21 and a one year high of $306.77. The business’s fifty day moving average price is $224.06 and its two-hundred day moving average price is $223.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock has a market cap of $21.24 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44.

Insider Activity at First Solar

In other news, 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 transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was 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 owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock valued at $2,405,757 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. Clarkson Capital initiated coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. UBS Group raised their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Oppenheimer raised their price objective on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets decreased their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $288.46.

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.