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

First Solar (NASDAQ:FSLR) had its price target dropped by stock analysts at Royal Bank of Canada from $280.00 to $251.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the solar cell manufacturer’s stock. Royal Bank of Canada’s price objective points to a potential upside of 52.76% from the stock’s current price.

A number of other brokerages also recently weighed in on FSLR. Guggenheim reissued a “buy” rating and issued a $335.00 price target on shares of First Solar in a report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Tuesday, October 29th. Susquehanna decreased their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $271.96.

First Solar Stock Up 11.4 %

NASDAQ FSLR traded up $16.85 during trading on Wednesday, reaching $164.31. 4,463,554 shares of the company’s stock traded hands, compared to its average volume of 2,397,359. The company’s 50 day simple moving average is $174.55 and its two-hundred day simple moving average is $199.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a 12-month low of $144.28 and a 12-month high of $306.77. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47.

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

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC bought a new stake in First Solar in the third quarter worth $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the 3rd quarter worth $29,000. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Finally, Crews Bank & Trust acquired a new position in shares of First Solar during the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

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.