Analysts Set Expectations for First Solar FY2024 Earnings

First Solar, Inc. (NASDAQ:FSLR - Free Report) - Seaport Res Ptn issued their FY2024 earnings per share estimates for First Solar in a research report issued to clients and investors on Tuesday, November 5th. Seaport Res Ptn analyst T. Curran anticipates that the solar cell manufacturer will post earnings of $13.52 per share for the year. Seaport Res Ptn has a "Hold" rating on the stock. The consensus estimate for First Solar's current full-year earnings is $13.12 per share. Seaport Res Ptn also issued estimates for First Solar's Q4 2024 earnings at $5.16 EPS, Q1 2025 earnings at $3.89 EPS, Q2 2025 earnings at $4.96 EPS, Q3 2025 earnings at $5.32 EPS, Q4 2025 earnings at $5.93 EPS, FY2025 earnings at $20.10 EPS, Q1 2026 earnings at $4.79 EPS, Q2 2026 earnings at $6.93 EPS, Q3 2026 earnings at $7.57 EPS and FY2026 earnings at $27.80 EPS.

A number of other research analysts have also recently commented on the company. Janney Montgomery Scott raised First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. Citigroup upgraded shares of First Solar from a "neutral" rating to a "buy" rating and increased their target price for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price target on shares of First Solar from $311.00 to $279.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Guggenheim cut their price objective on shares of First Solar from $368.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, Evercore ISI lowered their target price on shares of First Solar from $281.00 to $278.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $281.13.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded up $2.68 during mid-day trading on Thursday, reaching $196.70. The company had a trading volume of 4,621,816 shares, compared to its average volume of 2,507,927. The company's 50-day moving average price is $220.18 and its 200-day moving average price is $224.94. First Solar has a one year low of $129.21 and a one year high of $306.77. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.37 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $2.50 EPS. The business's revenue was up 10.7% on a year-over-year basis.

Insider Activity

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently modified their holdings of the company. Strengthening Families & Communities LLC bought a new position in First Solar during the 3rd quarter valued at approximately $25,000. Aviso Wealth Management raised its holdings in shares of First Solar by 21.8% during the third quarter. Aviso Wealth Management now owns 3,211 shares of the solar cell manufacturer's stock valued at $801,000 after acquiring an additional 575 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in First Solar by 25.4% in the third quarter. Kayne Anderson Capital Advisors LP now owns 28,001 shares of the solar cell manufacturer's stock worth $6,985,000 after acquiring an additional 5,667 shares during the period. BCGM Wealth Management LLC boosted its holdings in First Solar by 1.1% in the third quarter. BCGM Wealth Management LLC now owns 6,696 shares of the solar cell manufacturer's stock valued at $1,670,000 after acquiring an additional 76 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in First Solar by 15.2% during the 3rd quarter. Natixis Advisors LLC now owns 72,117 shares of the solar cell manufacturer's stock valued at $17,989,000 after purchasing an additional 9,537 shares during the period. 92.08% of the stock is owned by institutional investors.

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.