FY2024 EPS Estimates for First Solar Lowered by Roth Capital

First Solar, Inc. (NASDAQ:FSLR) – Roth Capital reduced their FY2024 earnings per share (EPS) estimates for shares of First Solar in a research note issued on Sunday, February 23rd. Roth Capital analyst P. Shen now anticipates that the solar cell manufacturer will earn $12.60 per share for the year, down from their prior estimate of $13.02. The consensus estimate for First Solar’s current full-year earnings is $13.05 per share. Roth Capital also issued estimates for First Solar’s Q4 2024 earnings at $4.24 EPS.

FSLR has been the subject of several other reports. Guggenheim reissued a “buy” rating and set a $335.00 price objective on shares of First Solar in a report on Wednesday, January 22nd. Robert W. Baird decreased their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays reduced their target price on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday, October 29th. Finally, Morgan Stanley decreased their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $276.38.

First Solar Stock Down 1.6 %

First Solar stock opened at $152.91 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $16.37 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.19 and a beta of 1.47. The firm has a 50 day moving average price of $175.36 and a 200-day moving average price of $199.83. First Solar has a twelve month low of $141.76 and a twelve month high of $306.77.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Covestor Ltd lifted its holdings in shares of First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Field & Main Bank raised its stake in First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after buying an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares in the last quarter. Demars Financial Group LLC grew its stake in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after acquiring an additional 56 shares during the last quarter. Finally, Doliver Advisors LP increased its holdings in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after acquiring an additional 56 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other 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.