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 anticipates that the solar cell manufacturer will post earnings of $12.60 per share for the year, down from their prior estimate 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.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%.

Other research analysts have also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. The Goldman Sachs Group cut their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $335.00 price target on shares of First Solar in a report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $276.38.

First Solar Trading Down 3.6 %

NASDAQ FSLR opened at $147.46 on Tuesday. The company’s fifty day simple moving average is $174.55 and its 200-day simple moving average is $199.38. First Solar has a 52 week low of $141.76 and a 52 week high of $306.77. 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 stock has a market cap of $15.79 billion, a P/E ratio of 12.70, a PEG ratio of 0.19 and a beta of 1.47.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its position in shares of First Solar by 4.7% during the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after acquiring an additional 738 shares during the last quarter. Amiral Gestion bought a new position in shares of First Solar during the fourth quarter worth about $529,000. Wormser Freres Gestion grew its position in First Solar by 54.7% in the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock valued at $195,000 after buying an additional 378 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in First Solar in the 4th quarter valued at about $2,129,000. Finally, JT Stratford LLC bought a new position in First Solar in the 4th quarter valued at about $370,000. 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.