Seaport Res Ptn Weighs in on First Solar FY2024 Earnings

First Solar, Inc. (NASDAQ:FSLR) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings estimates for First Solar in a report released on Tuesday, November 5th. Seaport Res Ptn analyst T. Curran expects that the solar cell manufacturer will post earnings per share of $13.52 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.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share.

FSLR has been the subject of several other reports. Evercore ISI reduced their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada dropped their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Susquehanna reduced their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Barclays boosted their price objective on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group increased their target price on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Trading Up 1.4 %

NASDAQ:FSLR opened at $196.70 on Thursday. First Solar has a one year low of $129.21 and a one year high of $306.77. The business’s 50-day simple moving average is $219.65 and its 200 day simple moving average is $224.75. 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 cap of $21.06 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.37 and a beta of 1.48.

Hedge Funds Weigh In On First Solar

Hedge funds have recently modified their holdings of the stock. Prospera Financial Services Inc grew its stake in First Solar by 52.5% in the third quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock valued at $508,000 after purchasing an additional 701 shares in the last quarter. Whalen Wealth Management Inc. grew its stake in shares of First Solar by 103.3% in the 3rd quarter. Whalen Wealth Management Inc. now owns 3,305 shares of the solar cell manufacturer’s stock valued at $824,000 after buying an additional 1,679 shares in the last quarter. Strengthening Families & Communities LLC acquired a new position in First Solar in the third quarter worth approximately $25,000. Aviso Wealth Management raised its position in 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. Finally, 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 valued at $6,985,000 after acquiring an additional 5,667 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the 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 completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the firm’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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

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.