Analysts expect First Solar, Inc. (NASDAQ:FSLR) to report earnings per share (EPS) of $0.64 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Solar’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.68. First Solar posted earnings of ($0.25) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 356%. The company is expected to issue its next quarterly earnings results after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that First Solar will report full year earnings of $1.51 per share for the current year, with EPS estimates ranging from $1.48 to $1.56. For the next fiscal year, analysts anticipate that the company will report earnings of $2.47 per share, with EPS estimates ranging from $2.32 to $2.62. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for First Solar.
Several brokerages have recently commented on FSLR. Vertical Group upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Cowen set a $74.00 price target on First Solar and gave the company a “buy” rating in a research note on Wednesday, December 12th. JMP Securities upgraded First Solar from an “underperform” rating to a “market perform” rating in a research note on Friday, October 26th. They noted that the move was a valuation call. Goldman Sachs Group upgraded First Solar to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, January 16th. Finally, Cascend Securities upgraded First Solar from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $65.47.
Several hedge funds have recently modified their holdings of FSLR. Advisors Asset Management Inc. purchased a new stake in shares of First Solar during the second quarter worth about $208,000. Schroder Investment Management Group grew its stake in shares of First Solar by 4.5% during the second quarter. Schroder Investment Management Group now owns 174,352 shares of the solar cell manufacturer’s stock worth $9,089,000 after acquiring an additional 7,556 shares during the last quarter. We Are One Seven LLC purchased a new stake in shares of First Solar during the third quarter worth about $203,000. Polianta Ltd purchased a new stake in shares of First Solar during the third quarter worth about $1,060,000. Finally, Malaga Cove Capital LLC grew its stake in shares of First Solar by 6.8% during the third quarter. Malaga Cove Capital LLC now owns 21,450 shares of the solar cell manufacturer’s stock worth $1,056,000 after acquiring an additional 1,359 shares during the last quarter. Institutional investors and hedge funds own 54.43% of the company’s stock.
Shares of First Solar stock opened at $51.02 on Tuesday. The firm has a market cap of $5.33 billion, a PE ratio of 19.70, a PEG ratio of 1.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.14 and a current ratio of 4.48. First Solar has a 12 month low of $36.51 and a 12 month high of $81.72.
About First Solar
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components 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.
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