Seaport Res Ptn Lowers Earnings Estimates for First Solar

First Solar, Inc. (NASDAQ:FSLR) – Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for First Solar in a research report issued on Wednesday, January 15th. Seaport Res Ptn analyst T. Curran now expects that the solar cell manufacturer will post earnings per share of $13.23 for the year, down from their prior forecast of $13.52. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for First Solar’s current full-year earnings is $13.09 per share. Seaport Res Ptn also issued estimates for First Solar’s Q4 2024 earnings at $4.87 EPS.

FSLR has been the topic of a number of other reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Jefferies Financial Group lowered their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Roth Mkm dropped their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average target price of $277.75.

First Solar Stock Up 1.0 %

FSLR stock opened at $192.88 on Friday. The business’s fifty day moving average price is $190.18 and its two-hundred day moving average price is $209.83. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.21 and a beta of 1.49. First Solar has a fifty-two week low of $135.88 and a fifty-two week 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 announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company 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% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS.

Institutional Trading of First Solar

A number of hedge funds have recently added to or reduced their stakes in the stock. Western Financial Corp CA bought a new position in shares of First Solar in the 3rd quarter valued at $1,209,000. Stifel Financial Corp grew its position in First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after acquiring an additional 5,780 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in First Solar by 224.0% in the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of First Solar by 802.1% during the third quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock valued at $5,104,000 after purchasing an additional 18,192 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of First Solar by 6.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after purchasing an additional 14,597 shares during the last quarter. 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.