First Solar (NASDAQ:FSLR) Issues FY19 Earnings Guidance

First Solar (NASDAQ:FSLR) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $2.25-2.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.45. The company issued revenue guidance of $3.5-3.7 billion, compared to the consensus revenue estimate of $3.53 billion.First Solar also updated its FY 2019 guidance to $2.25-2.75 EPS.

NASDAQ FSLR traded down $0.20 during trading on Friday, reaching $66.63. 2,132,443 shares of the stock traded hands, compared to its average volume of 993,835. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The firm’s 50-day moving average is $65.10. The company has a current ratio of 4.38, a quick ratio of 3.83 and a debt-to-equity ratio of 0.11. First Solar has a fifty-two week low of $36.51 and a fifty-two week high of $69.24.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million for the quarter, compared to analyst estimates of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. The firm’s revenue for the quarter was up 89.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.46) EPS. As a group, equities analysts anticipate that First Solar will post 2.39 EPS for the current fiscal year.

Several research firms have recently weighed in on FSLR. BidaskClub upgraded shares of First Solar from a hold rating to a buy rating in a report on Wednesday, June 5th. Roth Capital set a $75.00 price target on shares of First Solar and gave the company a buy rating in a report on Thursday, June 13th. Argus upped their price target on shares of First Solar to $66.00 and gave the company an average rating in a report on Friday, May 3rd. Zacks Investment Research cut shares of First Solar from a hold rating to a sell rating in a report on Monday, April 29th. Finally, ValuEngine upgraded shares of First Solar from a hold rating to a buy rating in a report on Wednesday, May 1st. One equities 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 company. The stock currently has a consensus rating of Buy and a consensus price target of $70.11.

In related news, COO Philip Dejong sold 25,365 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.04, for a total transaction of $1,522,914.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 8,476 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $57.85, for a total transaction of $490,336.60. Following the transaction, the insider now owns 97,546 shares of the company’s stock, valued at approximately $5,643,036.10. The disclosure for this sale can be found here. Insiders have sold 128,457 shares of company stock valued at $7,815,611 in the last 90 days. 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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