First Solar (NASDAQ:FSLR – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 13.000-14.000 for the period, compared to the consensus earnings per share estimate of 13.590. The company issued revenue guidance of $4.4 billion-$4.6 billion, compared to the consensus revenue estimate of $4.5 billion. First Solar also updated its FY24 guidance to $13.00-14.00 EPS.
First Solar Stock Down 1.3 %
FSLR stock traded down $2.85 during trading on Friday, hitting $215.65. 1,466,134 shares of the company’s stock traded hands, compared to its average volume of 2,535,819. The business has a fifty day simple moving average of $246.34 and a two-hundred day simple moving average of $194.21. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $23.09 billion, a P/E ratio of 22.64, a PEG ratio of 0.28 and a beta of 1.44. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77.
First Solar (NASDAQ:FSLR – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 18.15%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 EPS. Sell-side analysts anticipate that First Solar will post 13.56 EPS for the current year.
Analyst Ratings Changes
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Insiders Place Their Bets
In related news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $922,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now directly owns 1,045 shares in the company, valued at $199,051.60. The disclosure for this sale can be found here. Insiders sold 51,153 shares of company stock worth $12,540,428 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.
First Solar Company Profile
First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.
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