Seaport Res Ptn Forecasts First Solar FY2024 Earnings

First Solar, Inc. (NASDAQ:FSLR) – Analysts at Seaport Res Ptn issued their FY2024 earnings estimates for First Solar in a note issued to investors on Tuesday, November 5th. Seaport Res Ptn analyst T. Curran forecasts that the solar cell manufacturer will earn $13.52 per share for the year. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for First Solar’s current full-year earnings is $13.12 per share. Seaport Res Ptn also issued estimates for First Solar’s Q4 2024 earnings at $5.16 EPS, Q1 2025 earnings at $3.89 EPS, Q2 2025 earnings at $4.96 EPS, Q3 2025 earnings at $5.32 EPS, Q4 2025 earnings at $5.93 EPS, FY2025 earnings at $20.10 EPS, Q1 2026 earnings at $4.79 EPS, Q2 2026 earnings at $6.93 EPS, Q3 2026 earnings at $7.57 EPS and FY2026 earnings at $27.80 EPS.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 earnings per share.

Several other equities analysts have also issued reports on the company. Mizuho cut their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Evercore ISI reduced their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. StockNews.com downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Roth Mkm reduced their price target on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Clarkson Capital started coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Trading Down 1.4 %

Shares of NASDAQ:FSLR opened at $193.93 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $20.76 billion, a PE ratio of 16.70, a P/E/G ratio of 0.37 and a beta of 1.48. First Solar has a 12-month low of $129.21 and a 12-month high of $306.77. The business’s fifty day simple moving average is $218.98 and its 200-day simple moving average is $224.87.

Insiders Place Their Bets

In other news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on 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 completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently modified their holdings of FSLR. Western Financial Corp CA purchased a new stake in shares of First Solar in the third quarter valued at approximately $1,209,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in First Solar by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after acquiring an additional 20,465 shares in the last quarter. Harbour Capital Advisors LLC raised its position in First Solar by 224.0% during the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after acquiring an additional 3,607 shares during the period. Vanguard Group Inc. lifted 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 in the last quarter. Finally, Warther Private Wealth LLC acquired a new stake in shares of First Solar in the third quarter valued at about $2,655,000. 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.