$433.75 Million in Sales Expected for First Solar, Inc. (FSLR) This Quarter

Brokerages expect First Solar, Inc. (NASDAQ:FSLR) to report sales of $433.75 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for First Solar’s earnings, with estimates ranging from $405.80 million to $460.00 million. First Solar posted sales of $480.43 million during the same quarter last year, which indicates a negative year-over-year growth rate of 9.7%. The business is expected to issue its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that First Solar will report full year sales of $433.75 million for the current year, with estimates ranging from $3.01 billion to $3.06 billion. For the next financial year, analysts expect that the company will post sales of $2.42 billion per share, with estimates ranging from $2.38 billion to $2.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover First Solar.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company’s revenue was up 59.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS.

Several research firms have recently weighed in on FSLR. Cowen reissued a “buy” rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd. Roth Capital reissued a “buy” rating and set a $60.00 price target on shares of First Solar in a report on Tuesday, September 26th. Robert W. Baird restated a “hold” rating and issued a $53.00 price objective on shares of First Solar in a research note on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of First Solar in a research note on Friday, December 1st. Finally, JMP Securities restated an “outperform” rating and issued a $50.00 price objective (down from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. First Solar presently has an average rating of “Buy” and a consensus price target of $61.47.

First Solar (NASDAQ FSLR) opened at $68.96 on Friday. The firm has a market capitalization of $7,089.96, a price-to-earnings ratio of 16.64 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a twelve month low of $25.56 and a twelve month high of $71.80.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the sale, the chief executive officer now owns 100,754 shares in the company, valued at approximately $6,488,557.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.

Several institutional investors have recently modified their holdings of FSLR. Fiduciary Trust Co. purchased a new position in shares of First Solar during the second quarter valued at about $128,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after purchasing an additional 1,716 shares in the last quarter. Garner Asset Management Corp purchased a new position in shares of First Solar during the second quarter valued at about $208,000. World Asset Management Inc purchased a new position in shares of First Solar during the second quarter valued at about $221,000. Finally, Riverhead Capital Management LLC grew its position in shares of First Solar by 82.6% during the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after purchasing an additional 2,560 shares in the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

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First Solar Company Profile

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

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