Brokerages Anticipate First Solar, Inc. (NASDAQ:FSLR) to Announce $0.02 EPS

Brokerages expect First Solar, Inc. (NASDAQ:FSLR) to post $0.02 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for First Solar’s earnings. The highest EPS estimate is $0.08 and the lowest is ($0.04). First Solar reported earnings per share of ($0.46) in the same quarter last year, which suggests a positive year-over-year growth rate of 104.3%. The company is expected to issue its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that First Solar will report full-year earnings of $2.40 per share for the current financial year, with EPS estimates ranging from $2.31 to $2.46. For the next fiscal year, analysts expect that the business will report earnings of $3.78 per share, with EPS estimates ranging from $2.96 to $5.80. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for First Solar.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.52). The company had revenue of $532.00 million for the quarter, compared to analyst estimates of $596.32 million. First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share.

Several brokerages have recently issued reports on FSLR. BidaskClub downgraded shares of First Solar from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Roth Capital set a $75.00 price objective on First Solar and gave the company a “buy” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $72.00 price objective (up from $70.00) on shares of First Solar in a report on Monday, May 6th. Zacks Investment Research downgraded First Solar from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Finally, Argus increased their price objective on First Solar to $66.00 and gave the company an “average” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $65.67.

Shares of NASDAQ:FSLR opened at $62.53 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.83 and a current ratio of 4.38. First Solar has a 52-week low of $36.51 and a 52-week high of $63.82.

In related news, insider Georges Antoun sold 8,481 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.04, for a total value of $509,199.24. Following the completion of the sale, the insider now directly owns 107,946 shares in the company, valued at $6,481,077.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 33,371 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $60.00, for a total value of $2,002,260.00. Following the sale, the chief executive officer now owns 152,510 shares of the company’s stock, valued at $9,150,600. The disclosure for this sale can be found here. Insiders sold 118,867 shares of company stock valued at $7,105,192 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new stake in First Solar during the 1st quarter worth about $27,000. JOYN Advisors Inc. grew its holdings in First Solar by 130.2% during the 4th quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock worth $26,000 after acquiring an additional 341 shares during the period. TCG Advisors LP acquired a new stake in First Solar during the 1st quarter worth about $32,000. Lavaca Capital LLC acquired a new stake in First Solar during the 1st quarter worth about $79,000. Finally, Executive Wealth Management LLC acquired a new stake in First Solar during the 1st quarter worth about $79,000. Hedge funds and other institutional investors own 61.54% of the company’s stock.

First Solar Company Profile

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.

Further Reading: P/E Growth (PEG)

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