Zacks Research Forecasts Reduced Earnings for First Solar

First Solar, Inc. (NASDAQ:FSLR) – Research analysts at Zacks Research lowered their FY2024 earnings per share estimates for shares of First Solar in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst A. Dutta now expects that the solar cell manufacturer will post earnings per share of $13.07 for the year, down from their prior estimate of $13.53. The consensus estimate for First Solar’s current full-year earnings is $13.16 per share. Zacks Research also issued estimates for First Solar’s Q4 2024 earnings at $4.71 EPS, Q1 2025 earnings at $3.78 EPS, Q2 2025 earnings at $4.60 EPS, Q4 2025 earnings at $6.27 EPS, FY2025 earnings at $18.46 EPS, Q1 2026 earnings at $4.35 EPS and FY2026 earnings at $22.48 EPS.

Several other equities analysts have also recently issued reports on the company. Barclays reduced their price objective on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Bank of America reduced their price objective on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Piper Sandler reduced their price objective on First Solar from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Evercore ISI dropped their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Stock Down 1.2 %

FSLR opened at $182.66 on Thursday. The business has a 50 day simple moving average of $213.50 and a 200-day simple moving average of $225.40. The stock has a market capitalization of $19.56 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.33 and a beta of 1.48. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during 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%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. AlphaMark Advisors LLC acquired a new position in First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the 3rd quarter valued at about $25,000. Kennebec Savings Bank purchased a new position in First Solar in the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC grew its position in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.08% 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.