First Solar, Inc. Forecasted to Earn Q1 2024 Earnings of $2.06 Per Share (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) – Analysts at KeyCorp issued their Q1 2024 earnings estimates for First Solar in a report released on Tuesday, March 26th. KeyCorp analyst S. Karp anticipates that the solar cell manufacturer will post earnings of $2.06 per share for the quarter. The consensus estimate for First Solar’s current full-year earnings is $13.51 per share. KeyCorp also issued estimates for First Solar’s Q2 2024 earnings at $3.64 EPS, Q3 2024 earnings at $4.27 EPS, Q4 2024 earnings at $3.50 EPS and FY2026 earnings at $30.29 EPS.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned ($0.07) earnings per share. First Solar’s quarterly revenue was up 15.5% on a year-over-year basis.

Several other equities research analysts have also commented on FSLR. Wells Fargo & Company lowered shares of First Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $215.00 to $187.00 in a research note on Monday, January 8th. Oppenheimer boosted their price objective on shares of First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group began coverage on shares of First Solar in a research note on Friday, December 15th. They issued a “buy” rating and a $211.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Finally, Mizuho upped their target price on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.48.

First Solar Trading Up 0.8 %

NASDAQ:FSLR opened at $168.80 on Friday. First Solar has a one year low of $129.21 and a one year high of $232.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The company’s 50-day simple moving average is $152.04 and its 200 day simple moving average is $155.26. The firm has a market capitalization of $18.04 billion, a P/E ratio of 21.81, a PEG ratio of 0.29 and a beta of 1.41.

Insider Buying and Selling at First Solar

In other First Solar news, insider Georges Antoun sold 16,667 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Georges Antoun sold 16,667 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’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 approximately $766,917.80. The disclosure for this sale can be found here. Insiders sold 19,883 shares of company stock worth $3,100,837 over the last 90 days. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently made changes to their positions in FSLR. First Pacific Financial bought a new stake in shares of First Solar in the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar in the 4th quarter worth about $27,000. Estabrook Capital Management purchased a new position in First Solar in the 3rd quarter worth about $29,000. Baystate Wealth Management LLC purchased a new position in First Solar in the 4th quarter worth about $29,000. Finally, Headinvest LLC purchased a new position in First Solar in the 3rd quarter worth about $30,000. Institutional investors 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.