First Solar (NASDAQ:FSLR) Updates FY 2021 Earnings Guidance

First Solar (NASDAQ:FSLR) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.000-$4.600 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.140. The company issued revenue guidance of $2.88 billion-$3.10 billion, compared to the consensus revenue estimate of $2.92 billion.

FSLR stock traded up $1.14 during midday trading on Thursday, hitting $108.28. The stock had a trading volume of 2,096,551 shares, compared to its average volume of 2,150,343. The firm has a market cap of $11.51 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35. The company has a current ratio of 4.26, a quick ratio of 3.35 and a debt-to-equity ratio of 0.04. First Solar has a 1-year low of $67.71 and a 1-year high of $123.13. The business has a fifty day moving average price of $105.34 and a two-hundred day moving average price of $92.89.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, November 4th. The solar cell manufacturer reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.18). The firm had revenue of $583.50 million during the quarter, compared to analyst estimates of $688.10 million. First Solar had a net margin of 17.26% and a return on equity of 7.94%. First Solar’s quarterly revenue was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 EPS. On average, equities analysts anticipate that First Solar will post 4.23 EPS for the current year.

Several equities analysts have recently weighed in on FSLR shares. Wells Fargo & Company started coverage on shares of First Solar in a report on Monday. They set an equal weight rating and a $115.00 price objective on the stock. Susquehanna upped their price objective on shares of First Solar from $123.00 to $140.00 and gave the company a positive rating in a report on Tuesday, November 9th. Guggenheim lowered shares of First Solar from a buy rating to a neutral rating and set a $103.00 price objective on the stock. in a report on Wednesday, October 20th. Barclays upped their price objective on shares of First Solar from $90.00 to $108.00 and gave the company an equal weight rating in a report on Wednesday, October 20th. Finally, Wolfe Research started coverage on shares of First Solar in a report on Tuesday, August 31st. They set a peer perform rating and a $100.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $107.35.

In other news, Director R Craig Kennedy sold 1,200 shares of the stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $111.17, for a total transaction of $133,404.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Markus Gloeckler sold 603 shares of the stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $112.82, for a total transaction of $68,030.46. The disclosure for this sale can be found here. Insiders sold a total of 2,923 shares of company stock valued at $318,810 over the last ninety days. 0.55% of the stock is currently owned by insiders.

An institutional investor recently raised its position in First Solar stock. Morgan Stanley lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 150.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 815,200 shares of the solar cell manufacturer’s stock after buying an additional 489,336 shares during the quarter. Morgan Stanley owned about 0.77% of First Solar worth $73,785,000 at the end of the most recent quarter. Institutional investors own 73.48% of the company’s stock.

About First Solar

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

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Earnings History and Estimates for First Solar (NASDAQ:FSLR)

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