First Solar (FSLR) to Release Earnings on Tuesday

First Solar (NASDAQ:FSLR - Get Free Report) will be issuing its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce 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.Investors that are interested in participating in the company's conference call can do so using this link.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share 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%. The business's revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. On average, analysts expect First Solar to post $14 EPS for the current fiscal year and $21 EPS for the next fiscal year.

First Solar Price Performance

Shares of NASDAQ FSLR traded up $5.42 during midday trading on Tuesday, reaching $201.67. 1,389,827 shares of the company traded hands, compared to its average volume of 2,372,957. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77. The firm has a market cap of $21.59 billion, a PE ratio of 20.57, a PEG ratio of 0.38 and a beta of 1.44. The stock's 50-day simple moving average is $226.97 and its 200-day simple moving average is $223.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the company's 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 directly owns 3,468 shares of the company's stock, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 3,468 shares of the company's stock, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar 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. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 over the last 90 days. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

FSLR has been the subject of a number of research reports. Susquehanna lowered their target price on First Solar from $285.00 to $280.00 and set a "positive" rating for the company in a research note on Wednesday, October 16th. Robert W. Baird reduced their target price on shares of First Solar from $344.00 to $307.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 2nd. UBS Group raised their price target on shares of First Solar from $350.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Oppenheimer upped 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, Bank of America lowered their target price on First Solar from $343.00 to $321.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.46.

About First Solar

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.