Analysts expect First Solar, Inc. (NASDAQ:FSLR) to announce earnings of $2.70 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for First Solar’s earnings, with the highest EPS estimate coming in at $3.05 and the lowest estimate coming in at $1.70. First Solar posted earnings per share of $0.49 in the same quarter last year, which indicates a positive year over year growth rate of 451%. The company is expected to announce its next earnings results on Thursday, February 20th.
On average, analysts expect that First Solar will report full year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.27 to $2.52. For the next financial year, analysts forecast that the business will post earnings of $3.71 per share, with EPS estimates ranging from $2.50 to $5.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover First Solar.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 24th. The solar cell manufacturer reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.77). First Solar had a negative net margin of 0.14% and a negative return on equity of 0.07%. The business had revenue of $547.00 million for the quarter, compared to analyst estimates of $995.41 million. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was down 19.1% on a year-over-year basis.
Several equities analysts recently commented on the stock. BidaskClub raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. set a $82.00 target price on shares of First Solar and gave the stock a “buy” rating in a research note on Tuesday, October 15th. UBS Group set a $73.00 target price on shares of First Solar and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays set a $72.00 price target on shares of First Solar and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird set a $80.00 price target on shares of First Solar and gave the stock a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.92.
In other news, COO Philip Dejong sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $53.37, for a total value of $266,850.00. Also, insider Georges Antoun sold 8,476 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $55.23, for a total transaction of $468,129.48. Following the completion of the sale, the insider now owns 44,390 shares in the company, valued at approximately $2,451,659.70. The disclosure for this sale can be found here. Insiders have sold 58,289 shares of company stock valued at $3,197,693 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FSLR. Resources Management Corp CT ADV acquired a new stake in First Solar during the 3rd quarter worth about $56,000. Public Employees Retirement System of Ohio raised its stake in shares of First Solar by 1.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,813 shares of the solar cell manufacturer’s stock valued at $1,497,000 after buying an additional 357 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of First Solar by 51.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 562,500 shares of the solar cell manufacturer’s stock valued at $32,631,000 after buying an additional 191,709 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of First Solar by 114.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,002 shares of the solar cell manufacturer’s stock valued at $58,000 after buying an additional 534 shares during the period. Finally, Energy Opportunities Capital Management LLC acquired a new position in shares of First Solar in the 3rd quarter valued at about $577,000. Institutional investors own 61.30% of the company’s stock.
Shares of FSLR stock opened at $53.37 on Friday. First Solar has a fifty-two week low of $38.45 and a fifty-two week high of $69.24. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 0.95 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.24 and a current ratio of 4.00. The stock’s 50-day simple moving average is $53.88 and its 200-day simple moving average is $60.31.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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