FY2024 EPS Estimates for First Solar Reduced by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Equities researchers at Roth Capital dropped their FY2024 earnings per share estimates for First Solar in a research note issued on Sunday, February 23rd. Roth Capital analyst P. Shen now forecasts that the solar cell manufacturer will post earnings per share of $12.60 for the year, down from their previous estimate of $13.02. The consensus estimate for First Solar’s current full-year earnings is $13.05 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.24 EPS.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%.

Other equities research analysts have also recently issued reports about the company. Bank of America dropped their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Tuesday, October 29th. Barclays reduced their target price on First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Guggenheim reissued a “buy” rating and issued a $335.00 target price on shares of First Solar in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reduced their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Buy” and a consensus price target of $276.38.

First Solar Price Performance

FSLR stock opened at $147.46 on Tuesday. The business has a fifty day moving average of $174.55 and a two-hundred day moving average of $199.38. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar has a 52-week low of $141.76 and a 52-week high of $306.77.

Institutional Investors Weigh In On First Solar

Institutional investors have recently bought and sold shares of the stock. Whalen Wealth Management Inc. grew its holdings in First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares during the period. Stifel Financial Corp grew its holdings in First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after purchasing an additional 5,780 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after purchasing an additional 49,074 shares during the period. Paragon Capital Management Inc. purchased a new stake in First Solar in the fourth quarter valued at approximately $1,240,000. Finally, Allspring Global Investments Holdings LLC grew its stake in First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after buying an additional 34,074 shares during the period. 92.08% of the stock is currently owned by hedge funds and other 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.