First Solar’s (FSLR) “Outperform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of First Solar (NASDAQ:FSLR) in a report issued on Wednesday morning,Benzinga reports. They currently have a $230.00 price target on the solar cell manufacturer’s stock, down from their prior price target of $260.00.

Several other brokerages have also recently weighed in on FSLR. Robert W. Baird decreased their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada reduced their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Bank of America decreased their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Evercore ISI lowered their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.00.

First Solar Stock Up 6.4 %

NASDAQ:FSLR opened at $156.84 on Wednesday. First Solar has a one year low of $144.28 and a one year high of $306.77. 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 company has a market cap of $16.79 billion, a PE ratio of 13.51, a P/E/G ratio of 0.19 and a beta of 1.47. The firm’s 50 day simple moving average is $174.00 and its 200 day simple moving average is $199.08.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in First Solar during the 4th quarter valued at $317,399,000. Wellington Management Group LLP raised its holdings in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock valued at $127,379,000 after purchasing an additional 718,631 shares in the last quarter. Mirova US LLC boosted its holdings in First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

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.