Seaport Res Ptn Predicts First Solar FY2027 Earnings

Key Points

• Seaport Res Ptn projects First Solar will earn $28.44 per share in FY2027, significantly higher than the current full-year consensus estimate of $13.05 per share.
• Multiple analysts have issued positive ratings adjustments for First Solar, with Mizuho raising its price target to $278.00 and maintaining an "outperform" rating.
• First Solar has shown strong financial performance, reporting an EPS of $3.18 for its latest quarter, exceeding expectations by 18.7% and achieving a revenue increase of 8.6% year-over-year.

First Solar, Inc. (NASDAQ:FSLR - Free Report) - Stock analysts at Seaport Res Ptn issued their FY2027 earnings per share estimates for shares of First Solar in a report issued on Sunday, August 3rd. Seaport Res Ptn analyst T. Curran expects that the solar cell manufacturer will earn $28.44 per share for the year. The consensus estimate for First Solar's current full-year earnings is $13.05 per share.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $3.25 EPS. The firm's revenue was up 8.6% on a year-over-year basis.

Several other equities research analysts also recently weighed in on FSLR. The Goldman Sachs Group increased their price target on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Oppenheimer downgraded First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. Susquehanna increased their price target on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Jefferies Financial Group set a $194.00 price target on First Solar and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Finally, KeyCorp downgraded First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $222.67.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $0.95 during mid-day trading on Tuesday, hitting $184.65. The stock had a trading volume of 1,629,586 shares, compared to its average volume of 2,623,156. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The company has a 50 day moving average of $168.61 and a two-hundred day moving average of $153.25. First Solar has a twelve month low of $116.56 and a twelve month high of $262.72. The firm has a market cap of $19.80 billion, a PE ratio of 15.80, a PEG ratio of 0.36 and a beta of 1.48.

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer owned 8,037 shares of the company's stock, valued at $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock valued at $2,515,172 over the last quarter. Company insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On First Solar

A number of large investors have recently bought and sold shares of FSLR. Garde Capital Inc. acquired a new stake in shares of First Solar in the first quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the first quarter worth $25,000. TD Private Client Wealth LLC increased its position in shares of First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after acquiring an additional 85 shares in the last quarter. Harbor Investment Advisory LLC increased its position in shares of First Solar by 138.9% in the second 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. Finally, Hantz Financial Services Inc. increased its position in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other 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.