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First Solar (FSLR) Gains But Lags Market: What You Should Know
In the latest trading session, First Solar (FSLR - Free Report) closed at $211.10, marking a +0.43% move from the previous day. The stock lagged the S&P 500's daily gain of 0.56%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 1.35%.
Coming into today, shares of the largest U.S. solar company had gained 26.94% in the past month. In that same time, the Oils-Energy sector lost 8%, while the S&P 500 lost 1.48%.
Investors will be hoping for strength from First Solar as it approaches its next earnings release. The company is expected to report EPS of $0.95, up 331.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $697.86 million, up 90.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.65 per share and revenue of $3.48 billion, which would represent changes of +1721.95% and +32.68%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. The Zacks Consensus EPS estimate has moved 52.7% higher within the past month. 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 31.59. This represents a premium compared to its industry's average Forward P/E of 27.72.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.