First Solar (FSLR) Scheduled to Post Quarterly Earnings on Tuesday

First Solar (NASDAQ:FSLR) is set to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $3.30 per share for the quarter. First Solar has set its FY24 guidance at $13.00-14.00 EPS and its FY 2024 guidance at 13.000-14.000 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. During the same period last year, the company earned $1.85 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. On average, analysts expect First Solar to post $14 EPS for the current fiscal year and $21 EPS for the next fiscal year.

First Solar Price Performance

NASDAQ FSLR opened at $196.25 on Tuesday. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The stock’s 50-day moving average is $226.97 and its two-hundred day moving average is $223.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The firm has a market cap of $21.01 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird lowered their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Roth Mkm lowered their price target on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price target on shares of First Solar in a research note on Wednesday, July 31st. Finally, Barclays boosted their price target on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $289.96.

Insiders Place Their Bets

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction 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 transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

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.