First Solar (FSLR) Set to Announce Earnings on Wednesday

First Solar (NASDAQ:FSLR) will be releasing its earnings data after the market closes on Wednesday, May 1st. Analysts expect First Solar to post earnings of $2.11 per share for the quarter. First Solar has set its FY24 guidance at $13.00-14.00 EPS and its FY 2024 guidance at 13.000-14.000 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business earned ($0.07) EPS. First Solar’s revenue was up 15.5% on a year-over-year basis. On average, analysts expect First Solar to post $14 EPS for the current fiscal year and $21 EPS for the next fiscal year.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $178.73 on Monday. The stock’s 50-day moving average is $163.40 and its two-hundred day moving average is $157.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41.

Insider Activity

In other news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 in the last three months. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FSLR shares. Janney Montgomery Scott started coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a report on Wednesday, April 17th. Barclays increased their price objective on First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Roth Mkm reiterated a “buy” rating and issued a $230.00 price objective on shares of First Solar in a report on Thursday, April 18th. Finally, Mizuho increased their price objective on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $233.92.

About First Solar

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.