Wall Street brokerages predict that First Solar, Inc. (NASDAQ:FSLR) will post $0.45 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for First Solar’s earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.34. First Solar posted earnings of $1.95 per share in the same quarter last year, which indicates a negative year over year growth rate of 76.9%. The firm is expected to announce its next earnings report on Thursday, October 25th.

On average, analysts expect that First Solar will report full year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.57 to $1.81. For the next year, analysts anticipate that the company will report earnings of $3.19 per share, with EPS estimates ranging from $2.21 to $4.15. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for First Solar.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 26th. The solar cell manufacturer reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.43). The firm had revenue of $309.00 million for the quarter, compared to analyst estimates of $509.19 million. First Solar had a positive return on equity of 4.12% and a negative net margin of 8.35%. The firm’s revenue was down 50.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS.

A number of equities analysts have weighed in on FSLR shares. BidaskClub downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 2nd. Roth Capital set a $90.00 price target on shares of First Solar and gave the stock a “buy” rating in a research note on Wednesday, June 6th. ValuEngine downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Bank of America raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, June 25th. Finally, Needham & Company LLC cut their price target on shares of First Solar to $75.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $70.85.

NASDAQ:FSLR traded down $0.11 during trading hours on Friday, reaching $48.30. 44,720 shares of the company were exchanged, compared to its average volume of 984,896. The company has a quick ratio of 4.60, a current ratio of 4.89 and a debt-to-equity ratio of 0.09. The company has a market cap of $5.12 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.82 and a beta of 1.48. First Solar has a 52-week low of $45.26 and a 52-week high of $81.72.

In other news, insider Raffi Garabedian sold 3,863 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $51.61, for a total value of $199,369.43. Following the transaction, the insider now owns 2,057 shares of the company’s stock, valued at approximately $106,161.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Georges Antoun sold 3,142 shares of the firm’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $52.72, for a total transaction of $165,646.24. Following the completion of the transaction, the insider now directly owns 71,251 shares in the company, valued at approximately $3,756,352.72. The disclosure for this sale can be found here. In the last three months, insiders sold 14,756 shares of company stock worth $774,803. Insiders own 0.54% of the company’s stock.

Several hedge funds have recently modified their holdings of FSLR. Centaurus Financial Inc. purchased a new position in shares of First Solar in the 2nd quarter valued at $113,000. Penserra Capital Management LLC raised its stake in shares of First Solar by 381.4% in the 1st quarter. Penserra Capital Management LLC now owns 1,704 shares of the solar cell manufacturer’s stock valued at $115,000 after acquiring an additional 1,350 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of First Solar in the 2nd quarter valued at $122,000. FNY Investment Advisers LLC purchased a new position in shares of First Solar in the 2nd quarter valued at $151,000. Finally, Cavalry Management Group LLC acquired a new stake in First Solar during the 1st quarter valued at $206,000. 54.22% of the stock is currently owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components 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.

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