First Solar (FSLR) Updates FY18 Earnings Guidance

First Solar (NASDAQ:FSLR) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.25-1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.22. The company issued revenue guidance of $2.3-2.5 billion, compared to the consensus revenue estimate of $2.39 billion.

Shares of First Solar (NASDAQ FSLR) traded up $4.18 during trading hours on Tuesday, hitting $61.45. The stock had a trading volume of 4,249,800 shares, compared to its average volume of 2,760,666. The company has a market capitalization of $6,297.31, a P/E ratio of 14.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a 1 year low of $25.56 and a 1 year high of $63.10.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.47 EPS for the current year.

A number of research analysts have weighed in on the company. Axiom Securities reissued a buy rating on shares of First Solar in a report on Thursday, August 10th. JMP Securities set a $67.00 target price on First Solar and gave the company a buy rating in a report on Wednesday, August 16th. ValuEngine raised First Solar from a hold rating to a buy rating in a report on Friday, August 11th. Roth Capital set a $70.00 target price on First Solar and gave the company a buy rating in a report on Friday. Finally, Vetr raised First Solar from a buy rating to a strong-buy rating and set a $65.10 target price on the stock in a report on Monday. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. First Solar currently has an average rating of Buy and an average target price of $53.91.

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First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Earnings History and Estimates for First Solar (NASDAQ:FSLR)

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