Q2 2024 EPS Estimates for First Solar, Inc. Decreased by Analyst (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) – Analysts at Roth Capital dropped their Q2 2024 earnings per share (EPS) estimates for shares of First Solar in a research note issued to investors on Thursday, May 2nd. Roth Capital analyst P. Shen now anticipates that the solar cell manufacturer will post earnings of $2.98 per share for the quarter, down from their prior forecast of $3.28. 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 Q3 2024 earnings at $3.85 EPS, Q4 2024 earnings at $4.67 EPS, Q2 2025 earnings at $5.57 EPS, Q3 2025 earnings at $6.47 EPS, FY2025 earnings at $23.00 EPS and Q1 2026 earnings at $4.42 EPS.

First Solar (NASDAQ:FSLR) 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 analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 44.8% on a year-over-year basis.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. DZ Bank assumed coverage on shares of First Solar in a report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price target for the company. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Finally, Janney Montgomery Scott initiated coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $238.16.

First Solar Trading Up 6.1 %

Shares of FSLR stock opened at $191.55 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00. The stock has a fifty day moving average of $166.57 and a two-hundred day moving average of $158.28. The firm has a market capitalization of $20.50 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

Institutional Trading of First Solar

A number of hedge funds have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar in the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the 4th quarter worth approximately $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the 3rd quarter worth approximately $29,000. Baystate Wealth Management LLC bought a new position in shares of First Solar during the 4th quarter worth approximately $29,000. Finally, Headinvest LLC bought a new position in shares of First Solar during the 3rd quarter worth approximately $30,000. Institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by corporate insiders.

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.