Analysts Anticipate First Solar, Inc. (FSLR) to Post -$0.03 EPS

Analysts expect that First Solar, Inc. (NASDAQ:FSLR) will report earnings per share (EPS) of ($0.03) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for First Solar’s earnings, with estimates ranging from ($0.37) to $0.42. First Solar reported earnings per share of $0.78 in the same quarter last year, which would suggest a negative year over year growth rate of 103.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, April 25th.

On average, analysts expect that First Solar will report full year earnings of $2.48 per share for the current financial year, with EPS estimates ranging from $2.36 to $2.65. For the next fiscal year, analysts anticipate that the business will report earnings of $3.52 per share, with EPS estimates ranging from $2.93 to $4.02. Zacks’ earnings per share averages are an average based on a survey of analysts that follow First Solar.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, February 21st. The solar cell manufacturer reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.15). First Solar had a return on equity of 2.80% and a net margin of 6.43%. The business had revenue of $691.00 million for the quarter, compared to analyst estimates of $812.52 million. During the same quarter last year, the firm earned ($0.25) earnings per share. The firm’s quarterly revenue was up 103.8% compared to the same quarter last year.

A number of research analysts have recently commented on FSLR shares. Roth Capital set a $65.00 price target on First Solar and gave the stock a “buy” rating in a report on Friday, December 7th. Goldman Sachs Group raised their price target on First Solar from $39.00 to $46.00 and gave the company a “neutral” rating in a report on Sunday, December 9th. Morgan Stanley decreased their price target on First Solar from $61.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 11th. UBS Group decreased their price target on First Solar to $73.00 and set a “buy” rating on the stock in a report on Wednesday, December 12th. They noted that the move was a valuation call. Finally, Cowen set a $74.00 price target on First Solar and gave the company a “buy” rating in a report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.40.

In other news, CFO Alexander R. Bradley sold 1,254 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $51.30, for a total transaction of $64,330.20. Following the sale, the chief financial officer now owns 8,887 shares of the company’s stock, valued at $455,903.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 6,427 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.65, for a total value of $344,808.55. Following the sale, the chief financial officer now directly owns 6,427 shares in the company, valued at approximately $344,808.55. The disclosure for this sale can be found here. Insiders sold 8,662 shares of company stock worth $458,862 in the last three months. Insiders own 0.54% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. raised its position in shares of First Solar by 0.6% during the first quarter. Deane Retirement Strategies Inc. now owns 36,789 shares of the solar cell manufacturer’s stock worth $1,942,000 after purchasing an additional 217 shares during the period. Norges Bank acquired a new stake in First Solar in the 4th quarter valued at approximately $54,251,000. Nordea Investment Management AB raised its position in First Solar by 14.2% in the 4th quarter. Nordea Investment Management AB now owns 96,362 shares of the solar cell manufacturer’s stock valued at $4,091,000 after buying an additional 12,002 shares during the last quarter. B. Riley Wealth Management Inc. raised its position in First Solar by 8.1% in the 4th quarter. B. Riley Wealth Management Inc. now owns 5,654 shares of the solar cell manufacturer’s stock valued at $240,000 after buying an additional 425 shares during the last quarter. Finally, CI Investments Inc. acquired a new stake in First Solar in the 4th quarter valued at approximately $416,000. 61.29% of the stock is currently owned by institutional investors.

Shares of FSLR stock traded up $0.24 during trading hours on Friday, reaching $55.09. 435,609 shares of the company’s stock were exchanged, compared to its average volume of 1,342,780. First Solar has a fifty-two week low of $36.51 and a fifty-two week high of $81.72. The firm has a market cap of $5.79 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 1.58 and a beta of 1.27. The company has a quick ratio of 4.11, a current ratio of 4.57 and a debt-to-equity ratio of 0.09.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules 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 of PV solar power systems.

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