First Solar (FSLR) Set to Announce Quarterly Earnings on Wednesday

First Solar (NASDAQ:FSLR) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $2.11 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 wish to listen to the company’s conference call can do so using this link.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the business earned ($0.07) EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. 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 $180.10 on Wednesday. The firm has a fifty day simple moving average of $162.27 and a 200 day simple moving average of $156.68. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00. The stock has a market capitalization of $19.28 billion, a PE ratio of 23.27, a P/E/G ratio of 0.30 and a beta of 1.41. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. DZ Bank assumed coverage on First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Roth Mkm restated a “buy” rating and set a $230.00 price target on shares of First Solar in a report on Thursday, April 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.36.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is currently owned by 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.