Seaport Res Ptn Decreases Earnings Estimates for First Solar

First Solar, Inc. (NASDAQ:FSLR) – Research analysts at Seaport Res Ptn decreased their FY2024 EPS estimates for shares of First Solar in a research report issued on Wednesday, January 15th. Seaport Res Ptn analyst T. Curran now expects that the solar cell manufacturer will post earnings per share of $13.23 for the year, down from their previous estimate of $13.52. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for First Solar’s current full-year earnings is $13.09 per share. Seaport Res Ptn also issued estimates for First Solar’s Q4 2024 earnings at $4.87 EPS.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Susquehanna cut their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Robert W. Baird reduced their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Finally, StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $277.75.

First Solar Stock Up 2.2 %

Shares of NASDAQ:FSLR opened at $190.89 on Friday. The business has a fifty day moving average price of $190.20 and a two-hundred day moving average price of $210.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a market capitalization of $20.44 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. First Solar has a 1 year low of $135.88 and a 1 year high of $306.77.

Institutional Investors Weigh In On First Solar

A number of large investors have recently added to or reduced their stakes in FSLR. Western Financial Corp CA bought a new stake in shares of First Solar in the third quarter worth about $1,209,000. Stifel Financial Corp boosted its holdings in First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares in the last quarter. Harbour Capital Advisors LLC increased its position in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after purchasing an additional 3,607 shares during the period. iA Global Asset Management Inc. raised its holdings in First Solar by 802.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock worth $5,104,000 after purchasing an additional 18,192 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in First Solar by 6.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after buying an additional 14,597 shares during the period. Institutional investors own 92.08% of the company’s stock.

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.