Roth Capital Comments on First Solar, Inc.’s Q2 2024 Earnings (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) – Research analysts at Roth Capital decreased their Q2 2024 earnings per share (EPS) estimates for First Solar in a research report issued on Thursday, May 2nd. Roth Capital analyst P. Shen now anticipates that the solar cell manufacturer will earn $2.98 per share 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.

A number of other brokerages have also recently commented on FSLR. DZ Bank initiated coverage on First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price target for the company. Bank of America increased their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Tuesday, April 23rd. Jefferies Financial Group increased their price target on First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Roth Mkm reiterated a “buy” rating and set a $230.00 price target on shares of First Solar in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Stock Up 0.4 %

Shares of FSLR opened at $194.67 on Monday. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The stock has a fifty day moving average of $168.55 and a 200-day moving average of $158.92.

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

Insider Activity at First Solar

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $108,640.00. Following the sale, the chief technology officer now owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,620 shares of company stock valued at $4,663,000. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently modified their holdings of FSLR. Family Legacy Inc. grew its stake in First Solar by 1.4% in the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock valued at $836,000 after buying an additional 69 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in First Solar by 36.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. Atticus Wealth Management LLC grew its stake in First Solar by 15.6% in the 1st quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock valued at $90,000 after buying an additional 72 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in First Solar by 10.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the solar cell manufacturer’s stock valued at $129,000 after buying an additional 74 shares in the last quarter. Finally, Bard Financial Services Inc. grew its stake in First Solar by 2.9% in the 1st quarter. Bard Financial Services Inc. now owns 2,700 shares of the solar cell manufacturer’s stock valued at $456,000 after buying an additional 75 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.