First Solar FY2024 EPS Estimate Increased by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Equities research analysts at Roth Capital increased their FY2024 earnings estimates for First Solar in a research report issued to clients and investors on Tuesday, October 29th. Roth Capital analyst P. Shen now expects that the solar cell manufacturer will earn $13.02 per share for the year, up from their prior forecast of $12.79. The consensus estimate for First Solar’s current full-year earnings is $13.18 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.66 EPS.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 EPS.

Several other analysts have also issued reports on the stock. Truist Financial initiated coverage on shares of First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday. William Blair initiated coverage on First Solar in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, Susquehanna reduced their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Trading Up 5.4 %

Shares of First Solar stock opened at $204.94 on Friday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The company’s fifty day simple moving average is $221.68 and its 200-day simple moving average is $223.93. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.44. The company has a current ratio of 2.14, a quick ratio of 1.65 and a debt-to-equity ratio of 0.05.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of the business’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 of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock valued at $2,405,757 in the last three months. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Atria Investments Inc boosted its holdings in First Solar by 24.7% in the third quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer’s stock valued at $618,000 after acquiring an additional 490 shares during the last quarter. Field & Main Bank lifted its position in First Solar by 4.1% during the 3rd 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 during the period. Demars Financial Group LLC boosted its stake in shares of First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after purchasing an additional 56 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of First Solar by 182.6% during the third quarter. Lindbrook Capital LLC now owns 1,232 shares of the solar cell manufacturer’s stock worth $307,000 after buying an additional 796 shares during the last quarter. Finally, Windward Capital Management Co. CA acquired a new position in First Solar in the third quarter valued at approximately $352,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.