Citigroup Cuts First Solar (NASDAQ:FSLR) Price Target to $236.00

First Solar (NASDAQ:FSLR) had its price target lowered by Citigroup from $254.00 to $236.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the solar cell manufacturer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Bank of America dropped their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Evercore ISI dropped their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Price Performance

Shares of FSLR opened at $136.18 on Wednesday. The stock has a market cap of $14.58 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar has a fifty-two week low of $133.90 and a fifty-two week high of $306.77. The firm’s 50-day simple moving average is $172.38 and its two-hundred day simple moving average is $198.11.

First Solar (NASDAQ:FSLR) last announced 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). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

A number of large investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of First Solar during the 4th quarter worth about $43,442,000. Mackenzie Financial Corp boosted its stake in shares of First Solar by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after purchasing an additional 738 shares during the period. Amiral Gestion bought a new stake in First Solar during the 4th quarter valued at about $529,000. Wormser Freres Gestion lifted its holdings in First Solar by 54.7% during the 4th quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock valued at $195,000 after buying an additional 378 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in First Solar during the 4th quarter valued at about $2,129,000. 92.08% of the stock is 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.