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First Solar (FSLR) Stock Sinks As Market Gains: What You Should Know
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First Solar (FSLR - Free Report) closed at $77.60 in the latest trading session, marking a -0.79% move from the prior day. This change lagged the S&P 500's 1.17% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Heading into today, shares of the largest U.S. solar company had gained 11.82% over the past month, outpacing the Oils-Energy sector's gain of 4.63% and the S&P 500's gain of 0.88% in that time.
First Solar will be looking to display strength as it nears its next earnings release. In that report, analysts expect First Solar to post earnings of -$0.14 per share. This would mark a year-over-year decline of 107.14%. Our most recent consensus estimate is calling for quarterly revenue of $616.35 million, down 23.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.87 per share and revenue of $2.53 billion, which would represent changes of -80.14% and -13.5%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for First Solar. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 76.64% lower. First Solar is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, First Solar is holding a Forward P/E ratio of 89.91. This represents a premium compared to its industry's average Forward P/E of 50.47.
We can also see that FSLR currently has a PEG ratio of 9.49. 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. FSLR's industry had an average PEG ratio of 2.32 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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First Solar (FSLR) Stock Sinks As Market Gains: What You Should Know
First Solar (FSLR - Free Report) closed at $77.60 in the latest trading session, marking a -0.79% move from the prior day. This change lagged the S&P 500's 1.17% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Heading into today, shares of the largest U.S. solar company had gained 11.82% over the past month, outpacing the Oils-Energy sector's gain of 4.63% and the S&P 500's gain of 0.88% in that time.
First Solar will be looking to display strength as it nears its next earnings release. In that report, analysts expect First Solar to post earnings of -$0.14 per share. This would mark a year-over-year decline of 107.14%. Our most recent consensus estimate is calling for quarterly revenue of $616.35 million, down 23.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.87 per share and revenue of $2.53 billion, which would represent changes of -80.14% and -13.5%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for First Solar. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 76.64% lower. First Solar is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, First Solar is holding a Forward P/E ratio of 89.91. This represents a premium compared to its industry's average Forward P/E of 50.47.
We can also see that FSLR currently has a PEG ratio of 9.49. 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. FSLR's industry had an average PEG ratio of 2.32 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.