Analysts forecast that First Solar, Inc. (NASDAQ:FSLR) will announce sales of $528.11 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for First Solar’s earnings, with the lowest sales estimate coming in at $289.10 million and the highest estimate coming in at $749.50 million. First Solar reported sales of $934.38 million during the same quarter last year, which indicates a negative year-over-year growth rate of 43.5%. The business is expected to announce its next quarterly 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 fiscal year, with estimates ranging from $2.85 billion to $2.95 billion. For the next year, analysts anticipate that the firm will post sales of $2.23 billion per share, with estimates ranging from $1.74 billion to $3.05 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow First Solar.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.38. The firm had revenue of $891.79 million during the quarter, compared to analyst estimates of $699.15 million. First Solar had a negative net margin of 18.14% and a positive return on equity of 6.71%.

Several equities research analysts have recently commented on FSLR shares. Cowen and Company set a $40.00 price target on First Solar and gave the stock a “buy” rating in a research note on Monday, July 10th. Roth Capital set a $40.00 price target on First Solar and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Robert W. Baird cut First Solar from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $38.00 in a research note on Thursday, May 18th. Zacks Investment Research upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, JMP Securities upgraded First Solar from a “market perform” rating to an “outperform” rating and set a $53.00 price target for the company in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.42.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/07/16/zacks-brokerages-expect-first-solar-inc-fslr-will-announce-quarterly-sales-of-528-11-million-2.html.

In other First Solar news, Director J Thomas Presby purchased 4,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $36.89 per share, with a total value of $147,560.00. Following the purchase, the director now owns 17,958 shares in the company, valued at $662,470.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bryan Robert Schumaker sold 2,747 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $96,145.00. Following the completion of the sale, the insider now directly owns 1,235 shares in the company, valued at $43,225. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the company. Bank of Nova Scotia purchased a new position in First Solar during the first quarter worth approximately $212,000. Amica Retiree Medical Trust increased its position in First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares during the period. NEXT Financial Group Inc increased its position in First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after buying an additional 975 shares during the period. LS Investment Advisors LLC increased its position in First Solar by 36.7% in the first quarter. LS Investment Advisors LLC now owns 5,275 shares of the solar cell manufacturer’s stock worth $143,000 after buying an additional 1,417 shares during the period. Finally, Trust Co. of Vermont increased its position in First Solar by 27.8% in the first quarter. Trust Co. of Vermont now owns 5,477 shares of the solar cell manufacturer’s stock worth $149,000 after buying an additional 1,190 shares during the period. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

First Solar (NASDAQ:FSLR) opened at 42.94 on Friday. First Solar has a 12-month low of $25.56 and a 12-month high of $49.50. The stock’s 50 day moving average is $37.42 and its 200 day moving average is $33.34. The stock’s market capitalization is $4.48 billion.

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.

Get a free copy of the Zacks research report on First Solar (FSLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.