Q3 2024 EPS Estimates for First Solar, Inc. (NASDAQ:FSLR) Cut by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Stock analysts at Roth Capital dropped their Q3 2024 EPS estimates for First Solar in a note issued to investors on Wednesday, July 31st. Roth Capital analyst P. Shen now forecasts that the solar cell manufacturer will earn $3.17 per share for the quarter, down from their prior estimate of $3.95. The consensus estimate for First Solar’s current full-year earnings is $13.53 per share. Roth Capital also issued estimates for First Solar’s Q1 2026 earnings at $4.42 EPS and Q2 2026 earnings at $7.12 EPS.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 EPS.

Several other research analysts have also recently issued reports on FSLR. Deutsche Bank Aktiengesellschaft lifted their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Jefferies Financial Group upped their price objective on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Roth Mkm reaffirmed a “buy” rating and set a $320.00 price target (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Finally, Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.58.

First Solar Stock Performance

Shares of First Solar stock opened at $213.05 on Friday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The firm’s 50-day moving average is $245.07 and its 200 day moving average is $194.89. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.37 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.86.

Insider Buying and Selling at First Solar

In other news, Director R Craig Kennedy sold 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $196.73, for a total transaction of $393,460.00. Following the sale, the director now directly owns 13,908 shares in the company, valued at approximately $2,736,120.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director R Craig Kennedy sold 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the transaction, the director now owns 13,908 shares of the company’s stock, valued at $2,736,120.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock valued at $12,540,428 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar during the 4th quarter worth approximately $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar during the 4th quarter valued at approximately $29,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in First Solar in the first quarter worth $32,000. 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.