First Solar, Inc. (NASDAQ:FSLR) Expected to Announce Earnings of $2.70 Per Share

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Wall Street brokerages expect First Solar, Inc. (NASDAQ:FSLR) to post $2.70 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for First Solar’s earnings, with estimates ranging from $1.70 to $3.05. First Solar reported earnings per share of $0.49 in the same quarter last year, which suggests a positive year over year growth rate of 451%. The business is expected to report its next earnings report on Thursday, February 20th.

On average, analysts expect that First Solar will report full year earnings of $2.44 per share for the current fiscal year, with EPS estimates ranging from $2.27 to $2.52. For the next year, analysts expect that the firm will post earnings of $3.71 per share, with EPS estimates ranging from $2.50 to $5.50. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow First Solar.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 24th. The solar cell manufacturer reported $0.29 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.77). First Solar had a negative return on equity of 0.07% and a negative net margin of 0.14%. The business had revenue of $547.00 million for the quarter, compared to analyst estimates of $995.41 million. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was down 19.1% on a year-over-year basis.

FSLR has been the subject of a number of research reports. JPMorgan Chase & Co. set a $82.00 price objective on First Solar and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group set a $73.00 price objective on First Solar and gave the company a “buy” rating in a research note on Friday, October 25th. Cfra cut First Solar from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Roth Capital set a $75.00 price objective on First Solar and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Barclays set a $72.00 price objective on First Solar and gave the company a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $70.92.

NASDAQ FSLR traded up $1.47 during trading hours on Friday, hitting $53.94. 460,571 shares of the company’s stock were exchanged, compared to its average volume of 1,314,902. The stock has a 50-day simple moving average of $53.68 and a 200 day simple moving average of $60.19. First Solar has a 1-year low of $38.45 and a 1-year high of $69.24. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 0.95 and a beta of 1.32. The company has a current ratio of 4.00, a quick ratio of 3.24 and a debt-to-equity ratio of 0.09.

In other news, insider Georges Antoun sold 8,476 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $59.09, for a total value of $500,846.84. Following the transaction, the insider now owns 65,134 shares in the company, valued at $3,848,768.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Philip Dejong sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $53.37, for a total value of $266,850.00. Insiders sold 58,289 shares of company stock valued at $3,197,693 in the last three months. Insiders own 0.72% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of First Solar by 0.3% in the second quarter. BlackRock Inc. now owns 8,026,714 shares of the solar cell manufacturer’s stock valued at $527,195,000 after purchasing an additional 27,718 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of First Solar by 273.0% in the second quarter. Invesco Ltd. now owns 2,686,374 shares of the solar cell manufacturer’s stock valued at $176,441,000 after purchasing an additional 1,966,171 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of First Solar by 40.5% in the second quarter. Bank of New York Mellon Corp now owns 2,304,211 shares of the solar cell manufacturer’s stock valued at $151,340,000 after purchasing an additional 664,729 shares in the last quarter. State Street Corp lifted its holdings in shares of First Solar by 0.7% in the third quarter. State Street Corp now owns 2,025,290 shares of the solar cell manufacturer’s stock valued at $117,487,000 after purchasing an additional 13,585 shares in the last quarter. Finally, Polunin Capital Partners Ltd lifted its holdings in First Solar by 2.2% during the third quarter. Polunin Capital Partners Ltd now owns 924,453 shares of the solar cell manufacturer’s stock worth $53,627,000 after acquiring an additional 20,100 shares during the period. Institutional investors own 61.30% of the company’s stock.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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