First Solar, Inc. (FSLR) to Post FY2018 Earnings of $1.50 Per Share, Oppenheimer Forecasts

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First Solar, Inc. (NASDAQ:FSLR) – Equities researchers at Oppenheimer decreased their FY2018 earnings per share estimates for shares of First Solar in a research note issued to investors on Thursday, October 25th. Oppenheimer analyst C. Rusch now expects that the solar cell manufacturer will post earnings of $1.50 per share for the year, down from their previous estimate of $1.61.

FSLR has been the topic of several other reports. Zacks Investment Research lowered shares of First Solar from a “hold” rating to a “sell” rating in a report on Friday, October 12th. ValuEngine lowered shares of First Solar from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. UBS Group set a $85.00 price objective on shares of First Solar and gave the company a “buy” rating in a report on Friday, October 26th. JPMorgan Chase & Co. set a $79.00 target price on shares of First Solar and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, BidaskClub downgraded shares of First Solar from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $68.03.

Shares of FSLR stock opened at $39.78 on Monday. The company has a market cap of $4.13 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.14 and a current ratio of 4.48. First Solar has a 52-week low of $36.51 and a 52-week high of $81.72.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The company had revenue of $676.22 million for the quarter, compared to analyst estimates of $683.93 million. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Luminus Management LLC lifted its stake in shares of First Solar by 5,435.8% during the second quarter. Luminus Management LLC now owns 1,292,562 shares of the solar cell manufacturer’s stock worth $68,067,000 after buying an additional 1,269,213 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of First Solar by 98.9% during the second quarter. OppenheimerFunds Inc. now owns 2,014,693 shares of the solar cell manufacturer’s stock worth $106,094,000 after buying an additional 1,001,993 shares during the period. Calamos Advisors LLC lifted its stake in shares of First Solar by 56.6% during the second quarter. Calamos Advisors LLC now owns 862,950 shares of the solar cell manufacturer’s stock worth $45,443,000 after buying an additional 311,998 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of First Solar by 75,478.1% during the second quarter. CIBC Private Wealth Group LLC now owns 200,282 shares of the solar cell manufacturer’s stock worth $10,547,000 after buying an additional 200,017 shares during the period. Finally, Lansdowne Partners UK LLP lifted its stake in shares of First Solar by 147.5% during the second quarter. Lansdowne Partners UK LLP now owns 325,582 shares of the solar cell manufacturer’s stock worth $17,145,000 after buying an additional 194,033 shares during the period. Institutional investors own 53.76% of the company’s stock.

In other First Solar news, insider Raffi Garabedian sold 3,863 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $51.61, for a total value of $199,369.43. Following the completion of the sale, the insider now directly owns 2,057 shares in the company, valued at $106,161.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

First Solar Company Profile

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components 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.

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