KeyCorp Weighs in on First Solar, Inc.'s Q1 2024 Earnings (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR - Free Report) - Equities researchers at KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for shares of First Solar in a research note issued on Tuesday, March 26th. KeyCorp analyst S. Karp forecasts that the solar cell manufacturer will post earnings per share of $2.06 for the quarter. The consensus estimate for First Solar's current full-year earnings is $13.51 per share. KeyCorp also issued estimates for First Solar's Q2 2024 earnings at $3.64 EPS, Q3 2024 earnings at $4.27 EPS, Q4 2024 earnings at $3.50 EPS and FY2026 earnings at $30.29 EPS.

Several other research analysts have also issued reports on FSLR. Mizuho upped their target price on First Solar from $188.00 to $196.00 and gave the company a "buy" rating in a research report on Wednesday, January 3rd. Wells Fargo & Company downgraded First Solar from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $215.00 to $187.00 in a research report on Monday, January 8th. Oppenheimer increased their price target on First Solar from $268.00 to $269.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 28th. Susquehanna decreased their target price on First Solar from $261.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, February 28th. Finally, Jefferies Financial Group started coverage on First Solar in a research report on Friday, December 15th. They issued a "buy" rating and a $211.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

First Solar Stock Up 0.8 %

Shares of FSLR traded up $1.35 during trading hours on Friday, hitting $168.80. The company had a trading volume of 2,133,816 shares, compared to its average volume of 1,988,032. The company has a market capitalization of $18.04 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 0.29 and a beta of 1.41. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. First Solar has a one year low of $129.21 and a one year high of $232.00. The company's fifty day moving average price is $152.50 and its two-hundred day moving average price is $155.18.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted ($0.07) EPS. The company's revenue for the quarter was up 15.5% compared to the same quarter last year.

Insider Activity at First Solar

In other First Solar news, insider Georges Antoun sold 16,667 shares of the company's stock in a transaction dated 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 approximately $6,539,477.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares of the company's stock, valued at $2,467,524.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Georges Antoun sold 16,667 shares of First Solar 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 sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. In the last three months, insiders sold 19,883 shares of company stock worth $3,100,837. Corporate insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently made changes to their positions in FSLR. Raymond James & Associates raised its holdings in shares of First Solar by 160.6% during the first quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer's stock valued at $2,244,000 after buying an additional 16,515 shares during the last quarter. American Century Companies Inc. raised its holdings in First Solar by 13.8% during the first quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer's stock worth $710,000 after purchasing an additional 1,030 shares in the last quarter. Cibc World Market Inc. raised its holdings in First Solar by 71.0% during the first quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer's stock worth $625,000 after purchasing an additional 3,100 shares in the last quarter. Blair William & Co. IL raised its holdings in First Solar by 1.8% during the first quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer's stock worth $4,198,000 after purchasing an additional 890 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of First Solar by 11.6% in the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer's stock valued at $2,161,000 after buying an additional 2,691 shares in the last quarter. Institutional investors own 92.08% 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.