Roth Capital Analysts Decrease Earnings Estimates for First Solar, Inc. (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) – Stock analysts at Roth Capital dropped their Q2 2024 earnings estimates for First Solar in a research note issued on Thursday, May 2nd. Roth Capital analyst P. Shen now expects that the solar cell manufacturer will post earnings per share of $2.98 for the quarter, down from their prior forecast of $3.28. The consensus estimate for First Solar’s current full-year earnings is $13.55 per share. Roth Capital also issued estimates for First Solar’s Q3 2024 earnings at $3.85 EPS, Q4 2024 earnings at $4.67 EPS, Q2 2025 earnings at $5.57 EPS, Q3 2025 earnings at $6.47 EPS, FY2025 earnings at $23.00 EPS and Q1 2026 earnings at $4.42 EPS.

FSLR has been the subject of a number of other research reports. Oppenheimer increased their target price on First Solar from $269.00 to $271.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Morgan Stanley lifted their target price on First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Finally, UBS Group increased their target price on shares of First Solar from $250.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Stock Up 1.2 %

First Solar stock opened at $193.81 on Monday. The company has a 50 day moving average of $166.57 and a 200-day moving average of $158.31. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The stock has a market capitalization of $20.75 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter last year, the firm posted $0.40 earnings per share. First Solar’s revenue was up 44.8% compared to the same quarter last year.

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in First Solar by 15.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 32,365 shares of the solar cell manufacturer’s stock worth $5,230,000 after purchasing an additional 4,327 shares in the last quarter. Independent Advisor Alliance boosted its holdings in First Solar by 46.7% in the 3rd quarter. Independent Advisor Alliance now owns 1,686 shares of the solar cell manufacturer’s stock worth $272,000 after buying an additional 537 shares during the period. Brown Advisory Inc. raised its stake in First Solar by 78.4% during the 3rd quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock valued at $405,000 after purchasing an additional 1,102 shares during the period. Caerus Investment Advisors LLC purchased a new position in shares of First Solar in the third quarter worth $485,000. Finally, Strs Ohio lifted its stake in First Solar by 0.7% in the 3rd quarter. Strs Ohio now owns 90,699 shares of the solar cell manufacturer’s stock worth $14,656,000 after purchasing an additional 643 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares in the company, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 679 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the transaction, the chief technology officer now owns 14,473 shares in the company, valued at $2,315,680. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock valued at $4,269,540 over the last 90 days. 0.58% of the stock is owned by insiders.

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.