First Solar, Inc. (FSLR) Expected to Announce Quarterly Sales of $528.11 Million
Equities analysts expect First Solar, Inc. (NASDAQ:FSLR) to announce sales of $528.11 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for First Solar’s earnings, with the lowest sales estimate coming in at $289.1 million and the highest estimate coming in at $749.5 million. First Solar reported sales of $934.38 million in the same quarter last year, which indicates a negative year-over-year growth rate of 43.5%. The business is scheduled to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that First Solar will report full-year sales of $528.11 million for the current year, with estimates ranging from $2.85 billion to $2.95 billion. For the next year, analysts expect that the business will report sales of $2.24 billion per share, with estimates ranging from $1.76 billion to $3.05 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow First Solar.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.38. The company had revenue of $891.79 million during the quarter, compared to analysts’ expectations of $699.15 million. First Solar had a net margin of 14.72% and a return on equity of 9.58%.
Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of First Solar to a “hold” rating and set a $38.00 price objective for the company. in a research report on Saturday, March 25th. JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $29.40 to $28.99 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Robert W. Baird reaffirmed an “outperform” rating on shares of First Solar in a research report on Wednesday, May 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $36.00 price objective (up previously from $32.00) on shares of First Solar in a research report on Wednesday, May 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of First Solar in a research report on Wednesday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.08.
First Solar (NASDAQ:FSLR) opened at 36.84 on Friday. The firm’s market cap is $3.84 billion. The stock has a 50 day moving average of $32.14 and a 200 day moving average of $32.29. First Solar has a 12-month low of $25.56 and a 12-month high of $51.30.
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In related news, CFO Alexander R. Bradley sold 905 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $32.56, for a total value of $29,466.80. Following the sale, the chief financial officer now directly owns 571 shares in the company, valued at approximately $18,591.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Thomas Presby acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $36.89 per share, for a total transaction of $147,560.00. Following the completion of the purchase, the director now directly owns 17,958 shares in the company, valued at approximately $662,470.62. The disclosure for this purchase can be found here. Insiders sold a total of 5,358 shares of company stock worth $180,306 over the last 90 days. 0.40% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of First Solar by 5,075.3% in the fourth quarter. Franklin Resources Inc. now owns 6,269,614 shares of the solar cell manufacturer’s stock worth $201,193,000 after buying an additional 6,148,469 shares in the last quarter. Capital World Investors boosted its stake in shares of First Solar by 147.0% in the third quarter. Capital World Investors now owns 7,100,000 shares of the solar cell manufacturer’s stock worth $280,379,000 after buying an additional 4,225,000 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after buying an additional 679,898 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of First Solar by 42.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,925,634 shares of the solar cell manufacturer’s stock worth $61,794,000 after buying an additional 574,684 shares in the last quarter. Institutional investors and hedge funds own 58.02% of the company’s stock.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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