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First Solar (FSLR) Dips More Than Broader Markets: What You Should Know
First Solar (FSLR - Free Report) closed at $203.58 in the latest trading session, marking a -2% move from the prior day. This change lagged the S&P 500's 0.15% loss on the day. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 3.16%.
Coming into today, shares of the largest U.S. solar company had gained 27.15% in the past month. In that same time, the Oils-Energy sector lost 7.03%, while the S&P 500 lost 5.39%.
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 $0.76 per share. This would mark year-over-year growth of 285.37%. Meanwhile, our latest consensus estimate is calling for revenue of $692.14 million, up 88.57% from the prior-year quarter.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of $5.99 per share and revenue of $3.49 billion. These results would represent year-over-year changes of +1560.98% and +33.32%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 41.49% 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 34.67. This represents a premium compared to its industry's average Forward P/E of 32.04.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.