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Zacks Investment Ideas feature highlights: First Solar
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For Immediate Release
Chicago, IL – October 7, 2022 – Today, Zacks Investment Ideas feature highlights First Solar (FSLR - Free Report) .
Solar Shines as Clean Energy Companies Set to Roar Higher
Clean energy companies have soared over the past few months, and their run may just be getting started. The bullish move came following climate change legislation – part of the Inflation Reduction Act – that Biden signed into law back in August. The Democrats have boasted that the bill represents the largest investment in clean energy and climate provisions in history, a sweeping win for the American people.
The law includes approximately $370 billion that will direct spending, tax credits and loans to bolster technology such as solar panels. It includes incentives for companies to produce more renewable energy for households in order to transform their energy use and consumption. And the market has responded in kind – with many solar companies witnessing massive returns in a very short period of time.
The Zacks Solar industry is ranked in the top 28% out of approximately 250 industries. Because it is ranked in the top half of all Zacks Ranked Industries, we expect this group to outperform the market over the next 3 to 6 months.
Let's take a closer look at one stock within this industry that is flashing signs of continued outperformance.
First Solar
First Solar provides photovoltaic (PV) solar energy solutions globally. The company designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. FSLR serves developers and operators of systems, utilities, independent power producers, and commercial and industrial companies. First Solar was founded in 1999 and is based in Tempe, AZ.
FSLR has built some momentum on the earnings front, having either met or exceeded estimates in three of the past four quarters. The PV provider most recently posted Q2 EPS results back in July of $0.52/share, a 73.33% surprise over the $0.3 estimate. FSLR has delivered a trailing four-quarter average earnings surprise of 13.74%. The stock has advanced nearly 118% since bottoming out in May and is showing no signs of a reversal.
As we peel back the earnings picture, analysts have raised 2023 estimates by 14.65% in the past 60 days. The Zacks Consensus Estimate now stands at $1.80/share, reflecting an astounding 2,346.88% growth rate versus 2022. It's clear the growth outlook is favorable, and the stock has begun to reflect this with more upside likely on the way.
Make sure to keep an eye on FSLR and the rest of the solar industry.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: First Solar
For Immediate Release
Chicago, IL – October 7, 2022 – Today, Zacks Investment Ideas feature highlights First Solar (FSLR - Free Report) .
Solar Shines as Clean Energy Companies Set to Roar Higher
Clean energy companies have soared over the past few months, and their run may just be getting started. The bullish move came following climate change legislation – part of the Inflation Reduction Act – that Biden signed into law back in August. The Democrats have boasted that the bill represents the largest investment in clean energy and climate provisions in history, a sweeping win for the American people.
The law includes approximately $370 billion that will direct spending, tax credits and loans to bolster technology such as solar panels. It includes incentives for companies to produce more renewable energy for households in order to transform their energy use and consumption. And the market has responded in kind – with many solar companies witnessing massive returns in a very short period of time.
The Zacks Solar industry is ranked in the top 28% out of approximately 250 industries. Because it is ranked in the top half of all Zacks Ranked Industries, we expect this group to outperform the market over the next 3 to 6 months.
Let's take a closer look at one stock within this industry that is flashing signs of continued outperformance.
First Solar
First Solar provides photovoltaic (PV) solar energy solutions globally. The company designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. FSLR serves developers and operators of systems, utilities, independent power producers, and commercial and industrial companies. First Solar was founded in 1999 and is based in Tempe, AZ.
FSLR has built some momentum on the earnings front, having either met or exceeded estimates in three of the past four quarters. The PV provider most recently posted Q2 EPS results back in July of $0.52/share, a 73.33% surprise over the $0.3 estimate. FSLR has delivered a trailing four-quarter average earnings surprise of 13.74%. The stock has advanced nearly 118% since bottoming out in May and is showing no signs of a reversal.
As we peel back the earnings picture, analysts have raised 2023 estimates by 14.65% in the past 60 days. The Zacks Consensus Estimate now stands at $1.80/share, reflecting an astounding 2,346.88% growth rate versus 2022. It's clear the growth outlook is favorable, and the stock has begun to reflect this with more upside likely on the way.
Make sure to keep an eye on FSLR and the rest of the solar industry.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.