Wall Street brokerages forecast that First Solar, Inc. (NASDAQ:FSLR) will report earnings per share (EPS) of $0.02 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for First Solar’s earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at $0.08. First Solar reported earnings of ($0.46) per share during the same quarter last year, which would suggest a positive year over year growth rate of 104.3%. The firm is scheduled to issue its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that First Solar will report full year earnings of $2.40 per share for the current financial year, with EPS estimates ranging from $2.31 to $2.46. For the next financial year, analysts expect that the business will report earnings of $3.78 per share, with EPS estimates ranging from $2.96 to $5.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for First Solar.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.52). First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The firm had revenue of $532.00 million during the quarter, compared to analyst estimates of $596.32 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year.
Shares of NASDAQ FSLR traded up $0.31 during trading on Wednesday, reaching $59.25. The stock had a trading volume of 20,713 shares, compared to its average volume of 1,495,521. First Solar has a fifty-two week low of $36.51 and a fifty-two week high of $71.61. The company has a current ratio of 4.38, a quick ratio of 3.83 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $6.20 billion, a PE ratio of 43.54, a PEG ratio of 1.04 and a beta of 1.32.
In related news, CFO Alexander R. Bradley sold 754 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $49.67, for a total transaction of $37,451.18. Following the completion of the transaction, the chief financial officer now directly owns 13,296 shares of the company’s stock, valued at approximately $660,412.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul J. Kaleta sold 21,552 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.06, for a total value of $1,294,413.12. Following the transaction, the executive vice president now directly owns 21,573 shares of the company’s stock, valued at $1,295,674.38. The disclosure for this sale can be found here. Insiders have sold a total of 117,572 shares of company stock valued at $6,997,116 over the last three months. 0.72% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JOYN Advisors Inc. boosted its position in shares of First Solar by 130.2% during the 4th quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock worth $26,000 after acquiring an additional 341 shares in the last quarter. Manchester Capital Management LLC acquired a new position in shares of First Solar during the 1st quarter worth about $27,000. Oregon Public Employees Retirement Fund boosted its position in shares of First Solar by 3,850.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,267,749 shares of the solar cell manufacturer’s stock worth $30,000 after acquiring an additional 1,235,661 shares in the last quarter. TCG Advisors LP acquired a new position in shares of First Solar during the 1st quarter worth about $32,000. Finally, Private Capital Group LLC boosted its position in shares of First Solar by 68.6% during the 4th quarter. Private Capital Group LLC now owns 1,165 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 474 shares in the last quarter. 61.50% of the stock is owned by hedge funds and other institutional investors.
First Solar Company Profile
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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