Shares of First Solar (NASDAQ:FSLR) gained 0.38% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at $2.50, which beat analysts’ consensus estimate of $2.05 per share.
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Sales increased by 27.4% year-over-year, with revenue hitting $801.09 million. However, this missed analysts’ expectations by $91.25 million. For reference, analysts were expecting $900 million in revenue.
Looking forward, management now expects revenue and adjusted earnings per share for full-year 2023 to be in the ranges of $3.4 billion to $3.6 billion and $7.20 to $8.00, respectively.
Is First Solar a Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on FSLR stock based on eight Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average FSLR price target of $253.75 per share implies 79.16% upside potential.