Wall Street brokerages expect First Solar, Inc. (NASDAQ:FSLR) to announce earnings per share (EPS) of $1.06 for the current quarter, Zacks reports. Four analysts have made estimates for First Solar’s earnings, with estimates ranging from $0.71 to $1.38. First Solar posted earnings per share of $0.54 during the same quarter last year, which suggests a positive year over year growth rate of 96.3%. The company is scheduled to issue its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that First Solar will report full year earnings of $2.37 per share for the current year, with EPS estimates ranging from $2.26 to $2.51. For the next year, analysts forecast that the firm will post earnings of $3.72 per share, with EPS estimates ranging from $2.60 to $5.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover First Solar.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.20). First Solar had a net margin of 0.95% and a return on equity of 0.46%. The business had revenue of $585.00 million for the quarter, compared to analyst estimates of $656.80 million. During the same period in the prior year, the business earned ($0.46) EPS. The company’s revenue for the quarter was up 89.3% compared to the same quarter last year.

A number of analysts have recently issued reports on the stock. Barclays restated a “buy” rating on shares of First Solar in a research note on Friday, August 2nd. ValuEngine downgraded shares of First Solar from a “buy” rating to a “hold” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of First Solar from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. UBS Group increased their price target on shares of First Solar to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, BidaskClub downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $70.11.

Shares of NASDAQ:FSLR traded up $0.93 on Friday, hitting $63.31. The company had a trading volume of 676,256 shares, compared to its average volume of 1,286,630. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 46.55, a P/E/G ratio of 1.12 and a beta of 1.28. The stock has a 50 day moving average price of $63.11 and a 200 day moving average price of $60.28. First Solar has a 1-year low of $36.51 and a 1-year high of $69.24. The company has a current ratio of 4.05, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09.

In related news, EVP Christopher Bueter sold 27,490 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $61.00, for a total transaction of $1,676,890.00. Following the transaction, the executive vice president now directly owns 21,022 shares of the company’s stock, valued at $1,282,342. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R Craig Kennedy sold 1,800 shares of First Solar stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $62.55, for a total transaction of $112,590.00. Following the completion of the sale, the director now owns 25,805 shares of the company’s stock, valued at approximately $1,614,102.75. The disclosure for this sale can be found here. In the last three months, insiders sold 93,155 shares of company stock valued at $5,799,590. 0.72% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Meridian Wealth Management LLC bought a new stake in shares of First Solar in the second quarter valued at approximately $25,000. Manchester Capital Management LLC bought a new position in First Solar during the 1st quarter worth $27,000. TCG Advisors LP acquired a new position in First Solar in the 1st quarter valued at $32,000. NumerixS Investment Technologies Inc acquired a new position in First Solar in the 2nd quarter valued at $79,000. Finally, Pearl River Capital LLC lifted its position in shares of First Solar by 1,566.0% during the 1st quarter. Pearl River Capital LLC now owns 1,666 shares of the solar cell manufacturer’s stock valued at $88,000 after acquiring an additional 1,566 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

First Solar Company Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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