Zacks Research Lowers Earnings Estimates for First Solar

First Solar, Inc. (NASDAQ:FSLR - Free Report) - Investment analysts at Zacks Research reduced their FY2024 EPS estimates for shares of First Solar in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst A. Dutta now forecasts that the solar cell manufacturer will earn $13.07 per share for the year, down from their prior forecast of $13.53. The consensus estimate for First Solar's current full-year earnings is $13.16 per share. Zacks Research also issued estimates for First Solar's Q4 2024 earnings at $4.71 EPS, Q1 2025 earnings at $3.78 EPS, Q2 2025 earnings at $4.60 EPS, Q4 2025 earnings at $6.27 EPS, FY2025 earnings at $18.46 EPS, Q1 2026 earnings at $4.35 EPS and FY2026 earnings at $22.48 EPS.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during 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 company's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $2.50 earnings per share.

Other equities analysts have also issued research reports about the stock. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research report on Wednesday, October 9th. 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 note on Tuesday, October 15th. 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. Truist Financial initiated coverage on First Solar in a research report on Thursday, September 26th. They set a "buy" rating and a $300.00 target price on the stock. Finally, Morgan Stanley lowered their price target on First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average target price of $280.50.

First Solar Price Performance

Shares of FSLR stock traded up $0.93 during mid-day trading on Thursday, reaching $185.77. The stock had a trading volume of 741,481 shares, compared to its average volume of 2,523,053. The business has a 50-day simple moving average of $214.57 and a 200 day simple moving average of $225.70. The company has a market cap of $19.89 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. First Solar has a 12-month low of $135.88 and a 12-month 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.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer's stock valued at $89,000 after acquiring an additional 45 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer's stock valued at $1,805,000 after buying an additional 46 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer's stock valued at $2,068,000 after buying an additional 49 shares during the last quarter. Cambridge Trust Co. raised its stake in First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer's stock worth $546,000 after acquiring an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC lifted its holdings in First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer's stock worth $455,000 after acquiring an additional 50 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.