FY2024 EPS Estimates for First Solar, Inc. (NASDAQ:FSLR) Decreased by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Roth Capital dropped their FY2024 earnings estimates for First Solar in a report released on Wednesday, July 31st. Roth Capital analyst P. Shen now anticipates that the solar cell manufacturer will post earnings per share of $13.37 for the year, down from their prior estimate of $13.57. The consensus estimate for First Solar’s current full-year earnings is $13.56 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.75 EPS, Q2 2025 earnings at $5.58 EPS, Q4 2025 earnings at $7.67 EPS, FY2025 earnings at $23.03 EPS and FY2026 earnings at $29.84 EPS.

Several other analysts have also recently commented on the stock. Roth Mkm restated a “buy” rating and set a $320.00 price objective (up from $230.00) on shares of First Solar in a research note on Friday, May 31st. Mizuho restated a “neutral” rating and set a $274.00 target price (up from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Oppenheimer increased their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler upped their target price on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $275.58.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $213.05 on Thursday. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The business’s 50 day moving average price is $245.07 and its 200 day moving average price is $194.57. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The firm has a market cap of $22.81 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.28 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 18.15% and a net margin of 31.98%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $1.85 EPS.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of First Solar during the 4th quarter worth $27,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar during the 4th quarter worth $29,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of First Solar during the 1st quarter worth $32,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the sale, the director now directly owns 1,045 shares in the company, valued at approximately $199,051.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $922,740. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard D. Chapman sold 3,165 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the sale, the director now owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Insiders sold a total of 51,153 shares of company stock valued at $12,540,428 in the last three months. 0.58% of the stock is currently owned by company insiders.

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.