FY2024 EPS Estimates for First Solar Cut by Seaport Res Ptn

First Solar, Inc. (NASDAQ:FSLR - Free Report) - Research analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for shares of First Solar in a research note issued to investors on Wednesday, January 15th. Seaport Res Ptn analyst T. Curran now anticipates that the solar cell manufacturer will earn $13.23 per share for the year, down from their previous estimate of $13.52. Seaport Res Ptn has a "Strong-Buy" rating on the stock. The consensus estimate for First Solar's current full-year earnings is $13.09 per share. Seaport Res Ptn also issued estimates for First Solar's Q4 2024 earnings at $4.87 EPS.

FSLR has been the subject of a number of other research reports. Roth Mkm decreased their target price on shares of First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. The Goldman Sachs Group reduced their price objective on shares of First Solar from $311.00 to $279.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Janney Montgomery Scott raised shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 target price for the company in a research note on Tuesday, October 29th. StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Finally, Mizuho decreased their price target on First Solar from $274.00 to $257.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $277.75.

First Solar Trading Up 1.0 %

Shares of FSLR traded up $1.99 during mid-day trading on Friday, reaching $192.88. 1,538,842 shares of the company were exchanged, compared to its average volume of 1,638,984. The business has a 50 day simple moving average of $190.20 and a two-hundred day simple moving average of $210.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $20.65 billion, a PE ratio of 16.61, a PEG ratio of 0.21 and a beta of 1.49. First Solar has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results 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 company had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 earnings per share.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer's stock valued at $89,000 after buying an additional 45 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in First Solar by 0.6% during the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer's stock worth $1,805,000 after acquiring an additional 46 shares during the last quarter. Gilman Hill Asset Management LLC grew its stake in shares of First Solar by 2.8% in the 3rd 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 in the last quarter. Covestor Ltd raised its holdings in shares of First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer's stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Finally, Field & Main Bank lifted its position in shares of First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer's stock valued at $345,000 after purchasing an additional 55 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.