First Solar (NASDAQ:FSLR) Given New $251.00 Price Target at Royal Bank of Canada

First Solar (NASDAQ:FSLR) had its price target decreased by Royal Bank of Canada from $280.00 to $251.00 in a report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the solar cell manufacturer’s stock.

Several other research firms have also recently issued reports on FSLR. Evercore ISI lowered their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays lowered their price target on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group lowered their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $268.00.

First Solar Trading Up 6.4 %

Shares of FSLR stock opened at $156.84 on Wednesday. First Solar has a 1-year low of $144.28 and a 1-year high of $306.77. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a 50 day simple moving average of $174.00 and a 200-day simple moving average of $199.08.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Covestor Ltd raised its stake in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares during the period. Field & Main Bank increased its holdings in First Solar by 4.1% in the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after purchasing an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the period. Demars Financial Group LLC lifted its stake in First Solar by 1.4% during the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after purchasing an additional 56 shares in the last quarter. Finally, Doliver Advisors LP boosted its position in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after buying an additional 56 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.