Zacks Research Decreases Earnings Estimates for First Solar

First Solar, Inc. (NASDAQ:FSLR) – Stock analysts at Zacks Research reduced their FY2024 earnings estimates for First Solar in a research note issued on Tuesday, November 19th. Zacks Research analyst A. Dutta now expects that the solar cell manufacturer will post earnings per share of $13.07 for the year, down from their previous estimate of $13.53. The consensus estimate for First Solar’s current full-year earnings is $13.16 per share. Zacks Research also issued estimates for First Solar’s Q4 2024 earnings at $4.71 EPS, Q1 2025 earnings at $3.78 EPS, Q2 2025 earnings at $4.60 EPS, Q4 2025 earnings at $6.27 EPS, FY2025 earnings at $18.46 EPS, Q1 2026 earnings at $4.35 EPS and FY2026 earnings at $22.48 EPS.

A number of other research analysts have also commented on FSLR. Seaport Res Ptn raised First Solar to a “hold” rating in a research report on Tuesday, November 5th. Clarkson Capital began coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI dropped their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Stock Performance

First Solar stock opened at $184.84 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $19.79 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.33 and a beta of 1.48. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The firm has a 50-day moving average of $214.57 and a 200-day moving average of $225.70.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $2.50 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently bought and sold shares of the company. Electron Capital Partners LLC increased its position in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. State Street Corp boosted its stake in First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of First Solar by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

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.