First Solar, Inc. (NASDAQ:FSLR) Expected to Post Earnings of $2.87 Per Share

Wall Street analysts forecast that First Solar, Inc. (NASDAQ:FSLR) will post earnings of $2.87 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for First Solar’s earnings, with the highest EPS estimate coming in at $3.05 and the lowest estimate coming in at $2.35. First Solar reported earnings per share of $0.49 during the same quarter last year, which would indicate a positive year-over-year growth rate of 485.7%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, February 20th.

On average, analysts expect that First Solar will report full-year earnings of $2.45 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.52. For the next financial year, analysts expect that the firm will report earnings of $3.58 per share, with EPS estimates ranging from $2.41 to $4.47. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover First Solar.

FSLR has been the topic of several analyst reports. BidaskClub cut First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. ValuEngine cut First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Roth Capital set a $75.00 price objective on First Solar and gave the stock a “buy” rating in a report on Monday, October 21st. Zacks Investment Research lowered First Solar from a “hold” rating to a “strong sell” rating and set a $49.00 price objective on the stock. in a research report on Friday, January 3rd. Finally, Morgan Stanley dropped their target price on First Solar from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.25.

Shares of FSLR stock traded up $0.65 during mid-day trading on Wednesday, hitting $55.26. 651,726 shares of the company’s stock were exchanged, compared to its average volume of 1,322,235. First Solar has a fifty-two week low of $48.76 and a fifty-two week high of $69.24. The stock has a 50-day simple moving average of $54.02 and a two-hundred day simple moving average of $57.34. The company has a quick ratio of 3.24, a current ratio of 4.00 and a debt-to-equity ratio of 0.09. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -1,381.50, a PEG ratio of 0.95 and a beta of 1.31.

In other First Solar news, insider Georges Antoun sold 8,476 shares of First Solar stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $49.65, for a total value of $420,833.40. Following the completion of the transaction, the insider now directly owns 27,638 shares in the company, valued at $1,372,226.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Philip Dejong sold 11,491 shares of First Solar stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.25, for a total value of $634,877.75. Following the completion of the transaction, the chief operating officer now owns 9,541 shares of the company’s stock, valued at $527,140.25. The disclosure for this sale can be found here. Insiders sold 41,919 shares of company stock valued at $2,273,653 over the last quarter. Insiders own 0.72% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Cullen Frost Bankers Inc. boosted its stake in First Solar by 101.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 634 shares of the solar cell manufacturer’s stock valued at $35,000 after acquiring an additional 319 shares during the period. Citizens Financial Group Inc RI acquired a new position in shares of First Solar during the fourth quarter worth approximately $36,000. Valeo Financial Advisors LLC acquired a new position in shares of First Solar during the third quarter worth approximately $43,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of First Solar during the fourth quarter worth approximately $43,000. Finally, Usca Ria LLC acquired a new position in shares of First Solar during the third quarter worth approximately $46,000. Institutional investors own 63.17% of the company’s stock.

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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