FY2023 Earnings Estimate for First Solar, Inc. Issued By Zacks Research (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLRFree Report) – Equities researchers at Zacks Research cut their FY2023 earnings per share (EPS) estimates for shares of First Solar in a research note issued to investors on Thursday, February 1st. Zacks Research analyst A. Dutta now forecasts that the solar cell manufacturer will post earnings of $7.95 per share for the year, down from their previous forecast of $7.96. The consensus estimate for First Solar’s current full-year earnings is $7.96 per share. Zacks Research also issued estimates for First Solar’s Q4 2023 earnings at $3.20 EPS, Q4 2024 earnings at $4.59 EPS, FY2024 earnings at $12.38 EPS and Q4 2025 earnings at $5.02 EPS.

FSLR has been the topic of several other research reports. BNP Paribas assumed coverage on First Solar in a report on Friday, October 20th. They set an “outperform” rating and a $237.00 price target on the stock. Morgan Stanley upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $214.00 to $237.00 in a report on Friday, December 8th. BMO Capital Markets reduced their price objective on shares of First Solar from $226.00 to $216.00 and set an “outperform” rating on the stock in a report on Wednesday, November 1st. Citigroup reduced their price objective on shares of First Solar from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 18th. Finally, UBS Group reduced their price objective on shares of First Solar from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $234.00.

Check Out Our Latest Report on FSLR

First Solar Stock Up 0.9 %

NASDAQ FSLR opened at $141.11 on Monday. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a quick ratio of 2.45, a current ratio of 3.19 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $157.21 and its 200-day simple moving average is $164.52. The firm has a market cap of $15.08 billion, a PE ratio of 31.93 and a beta of 1.41.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $176.02, for a total transaction of $422,448.00. Following the completion of the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at $7,400,056.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barlow Wealth Partners Inc. acquired a new position in First Solar in the fourth quarter valued at approximately $2,076,000. Charles Schwab Investment Management Inc. boosted its holdings in First Solar by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,852 shares of the solar cell manufacturer’s stock valued at $105,754,000 after purchasing an additional 19,368 shares in the last quarter. Metis Global Partners LLC boosted its holdings in First Solar by 27.2% in the fourth quarter. Metis Global Partners LLC now owns 13,974 shares of the solar cell manufacturer’s stock valued at $2,407,000 after purchasing an additional 2,988 shares in the last quarter. Avalon Trust Co boosted its holdings in First Solar by 11.7% in the fourth quarter. Avalon Trust Co now owns 81,276 shares of the solar cell manufacturer’s stock valued at $14,002,000 after purchasing an additional 8,490 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in First Solar by 23.6% in the fourth quarter. M&T Bank Corp now owns 7,771 shares of the solar cell manufacturer’s stock valued at $1,339,000 after purchasing an additional 1,482 shares in the last quarter. 82.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

Further Reading

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

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