FY2027 EPS Estimates for First Solar Decreased by Analyst

Key Points

• Zacks Research has lowered their FY2027 EPS estimate for First Solar from $27.71 to $27.64, while the current consensus estimate for FY 2023 EPS is $13.05.
• Despite the EPS decrease, several analysts have increased their price targets for First Solar, with UBS raising their target from $255.00 to $275.00 and JPMorgan Chase lifting theirs from $241.00 to $262.00.
• First Solar reported a strong quarterly performance with $3.18 EPS and $1.10 billion in revenue, exceeding analysts' expectations for both metrics.

First Solar, Inc. (NASDAQ:FSLR - Free Report) - Zacks Research lowered their FY2027 EPS estimates for shares of First Solar in a note issued to investors on Monday, October 6th. Zacks Research analyst Team now forecasts that the solar cell manufacturer will post earnings per share of $27.64 for the year, down from their previous forecast of $27.71. The consensus estimate for First Solar's current full-year earnings is $13.05 per share.

Several other analysts have also issued reports on the stock. BMO Capital Markets upped their target price on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. UBS Group reiterated a "buy" rating and issued a $275.00 target price (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Weiss Ratings reissued a "hold (c)" rating on shares of First Solar in a report on Saturday, September 27th. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $241.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Finally, Mizuho boosted their price target on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $229.52.

First Solar Stock Performance

Shares of FSLR stock opened at $227.89 on Wednesday. The firm has a market capitalization of $24.44 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38. The firm has a fifty day simple moving average of $203.02 and a two-hundred day simple moving average of $169.53. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar has a 12 month low of $116.56 and a 12 month high of $235.87.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Garde Capital Inc. bought a new stake in First Solar in the 1st quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of First Solar during the 1st quarter valued at about $25,000. TD Private Client Wealth LLC lifted its holdings in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Strategic Wealth Investment Group LLC purchased a new position in First Solar in the 2nd quarter worth approximately $26,000. Finally, Harbor Investment Advisory LLC raised its holdings in shares of First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after acquiring an additional 100 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock worth $5,733,305 over the last quarter. Company insiders own 0.48% of the company's stock.

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.

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