Brokerages Anticipate First Solar, Inc. (FSLR) Will Announce Quarterly Sales of $345.65 Million

Equities research analysts expect First Solar, Inc. (NASDAQ:FSLR) to post sales of $345.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for First Solar’s earnings, with the highest sales estimate coming in at $415.00 million and the lowest estimate coming in at $276.30 million. First Solar posted sales of $891.79 million in the same quarter last year, which would indicate a negative year over year growth rate of 61.2%. The company is scheduled to announce its next earnings results on Tuesday, May 1st.

On average, analysts expect that First Solar will report full-year sales of $345.65 million for the current year, with estimates ranging from $2.38 billion to $2.47 billion. For the next financial year, analysts expect that the firm will report sales of $3.03 billion per share, with estimates ranging from $2.91 billion to $3.15 billion. Zacks’ sales averages are an average based on a survey of analysts that cover First Solar.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. First Solar had a negative net margin of 5.63% and a positive return on equity of 5.11%. The business had revenue of $339.00 million during the quarter, compared to analysts’ expectations of $459.93 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm’s revenue was down 29.4% on a year-over-year basis.

A number of analysts have commented on FSLR shares. Roth Capital set a $60.00 price target on shares of First Solar and gave the company a “buy” rating in a research note on Monday, October 30th. Vetr upgraded shares of First Solar from a “sell” rating to a “buy” rating and set a $64.01 price target for the company in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, October 31st. Goldman Sachs Group reiterated a “neutral” rating and issued a $65.00 price target (up previously from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of First Solar in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. First Solar presently has an average rating of “Hold” and an average target price of $68.82.

In other news, insider Raffi Garabedian sold 11,284 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total value of $790,557.04. Following the transaction, the insider now directly owns 9,227 shares of the company’s stock, valued at $646,443.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock worth $3,134,015 over the last three months. Insiders own 0.58% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Thompson Davis & CO. Inc. bought a new position in shares of First Solar in the fourth quarter valued at about $101,000. NuWave Investment Management LLC bought a new position in First Solar during the fourth quarter worth about $162,000. Compagnie Lombard Odier SCmA increased its position in First Solar by 145.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 2,700 shares of the solar cell manufacturer’s stock worth $182,000 after acquiring an additional 1,600 shares during the period. Cigna Investments Inc. New bought a new position in First Solar during the fourth quarter worth about $201,000. Finally, WealthTrust Fairport LLC bought a new position in First Solar during the fourth quarter worth about $203,000. 51.26% of the stock is currently owned by institutional investors.

Shares of First Solar (FSLR) traded down $4.49 during mid-day trading on Thursday, reaching $61.79. 6,223,991 shares of the company’s stock were exchanged, compared to its average volume of 2,370,000. The firm has a market capitalization of $6,450.00, a PE ratio of 26.87 and a beta of 2.08. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar has a 12-month low of $25.56 and a 12-month high of $76.61.

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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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