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First Solar (FSLR) Gains As Market Dips: What You Should Know
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In the latest trading session, First Solar (FSLR - Free Report) closed at $84.68, marking a +0.85% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, added 0.13%.
Heading into today, shares of the largest U.S. solar company had lost 13.11% over the past month, lagging the Oils-Energy sector's gain of 4.81% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from First Solar as it approaches its next earnings release. In that report, analysts expect First Solar to post earnings of $1.07 per share. This would mark a year-over-year decline of 0.93%. Meanwhile, our latest consensus estimate is calling for revenue of $906.43 million, up 48.78% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 39.67. Its industry sports an average Forward P/E of 38.08, so we one might conclude that First Solar is trading at a premium comparatively.
Also, we should mention that FSLR has a PEG ratio of 3.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 1.73 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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First Solar (FSLR) Gains As Market Dips: What You Should Know
In the latest trading session, First Solar (FSLR - Free Report) closed at $84.68, marking a +0.85% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, added 0.13%.
Heading into today, shares of the largest U.S. solar company had lost 13.11% over the past month, lagging the Oils-Energy sector's gain of 4.81% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from First Solar as it approaches its next earnings release. In that report, analysts expect First Solar to post earnings of $1.07 per share. This would mark a year-over-year decline of 0.93%. Meanwhile, our latest consensus estimate is calling for revenue of $906.43 million, up 48.78% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 39.67. Its industry sports an average Forward P/E of 38.08, so we one might conclude that First Solar is trading at a premium comparatively.
Also, we should mention that FSLR has a PEG ratio of 3.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 1.73 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.