First Solar, Inc. (FSLR) Scheduled to Post Earnings on Tuesday
First Solar, Inc. (NASDAQ:FSLR) is scheduled to post its quarterly earnings results after the market closes on Tuesday, October 31st. Analysts expect First Solar to post earnings of $0.77 per share for the quarter. First Solar has set its FY17 guidance at $2.00-2.50 EPS.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.04 by $0.60. The firm had revenue of $623.00 million during the quarter, compared to the consensus estimate of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The business’s quarterly revenue was down 38.7% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. On average, analysts expect First Solar to post $2.22 EPS for the current fiscal year and $1.14 EPS for the next fiscal year.
First Solar, Inc. (NASDAQ FSLR) opened at 48.92 on Tuesday. The company’s market capitalization is $5.11 billion. The firm has a 50-day moving average price of $47.68 and a 200 day moving average price of $41.42. First Solar, Inc. has a 52-week low of $25.56 and a 52-week high of $53.00.
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In other news, EVP Paul J. Kaleta sold 23,696 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.69, for a total transaction of $1,177,454.24. Following the transaction, the executive vice president now directly owns 14,510 shares of the company’s stock, valued at approximately $721,001.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 43,189 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $48.55, for a total value of $2,096,825.95. Following the transaction, the chief executive officer now directly owns 107,454 shares in the company, valued at $5,216,891.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,674 shares of company stock worth $4,655,846. Company insiders own 0.58% of the company’s stock.
A number of research firms have recently weighed in on FSLR. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 target price for the company. in a research note on Wednesday, October 18th. Zacks Investment Research lowered First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 13th. JMP Securities reissued an “outperform” rating and issued a $50.00 target price (down previously from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Roth Capital reissued a “buy” rating and issued a $60.00 target price on shares of First Solar in a research note on Tuesday, September 26th. Finally, Deutsche Bank AG raised First Solar from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $65.00 in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.10.
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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