First Solar (NASDAQ:FSLR) Updates FY 2019 Earnings Guidance

First Solar (NASDAQ:FSLR) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.25-2.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.44. The company issued revenue guidance of $3.5-3.7 billion, compared to the consensus revenue estimate of $3.56 billion.First Solar also updated its FY19 guidance to $2.25-2.75 EPS.

Shares of NASDAQ FSLR traded down $0.20 during mid-day trading on Friday, hitting $66.63. 2,132,443 shares of the company’s stock traded hands, compared to its average volume of 779,415. The business has a 50-day moving average of $65.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.38 and a quick ratio of 3.83. The company has a market capitalization of $7.02 billion, a P/E ratio of 48.99, a P/E/G ratio of 1.16 and a beta of 1.30. First Solar has a 1 year low of $36.51 and a 1 year high of $69.24.

First Solar (NASDAQ:FSLR) last announced its 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). The business had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $656.80 million. First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The firm’s quarterly revenue was up 89.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.46) earnings per share. On average, equities analysts expect that First Solar will post 2.39 EPS for the current fiscal year.

FSLR has been the topic of several recent research reports. BidaskClub upgraded shares of First Solar from a hold rating to a buy rating in a research report on Wednesday, June 5th. ValuEngine upgraded shares of First Solar from a hold rating to a buy rating in a research report on Wednesday, May 1st. Barclays restated a buy rating on shares of First Solar in a research report on Friday. Goldman Sachs Group set a $75.00 target price on shares of First Solar and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, UBS Group upped their target price on shares of First Solar to $80.00 and gave the company a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $70.11.

In related news, insider Georges Antoun sold 8,481 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.04, for a total value of $509,199.24. Following the sale, the insider now directly owns 107,946 shares of the company’s stock, valued at approximately $6,481,077.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Bueter sold 27,490 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $61.00, for a total transaction of $1,676,890.00. Following the completion of the sale, the executive vice president now directly owns 21,022 shares in the company, valued at $1,282,342. The disclosure for this sale can be found here. Insiders sold a total of 128,457 shares of company stock worth $7,815,611 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

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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