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First Solar (FSLR) Dips More Than Broader Markets: What You Should Know
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First Solar (FSLR - Free Report) closed the most recent trading day at $207.89, moving -1.02% from the previous trading session. This move lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Heading into today, shares of the largest U.S. solar company had gained 1.32% over the past month, lagging the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from First Solar as it approaches its next earnings report date. This is expected to be April 27, 2023. In that report, analysts expect First Solar to post earnings of $1.06 per share. This would mark year-over-year growth of 358.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $710.6 million, up 93.6% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.20 per share and revenue of $3.52 billion. These totals would mark changes of +1856.1% and +34.38%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. First Solar is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, First Solar is currently trading at a Forward P/E ratio of 29.16. Its industry sports an average Forward P/E of 27.86, so we one might conclude that First Solar is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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First Solar (FSLR) Dips More Than Broader Markets: What You Should Know
First Solar (FSLR - Free Report) closed the most recent trading day at $207.89, moving -1.02% from the previous trading session. This move lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Heading into today, shares of the largest U.S. solar company had gained 1.32% over the past month, lagging the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from First Solar as it approaches its next earnings report date. This is expected to be April 27, 2023. In that report, analysts expect First Solar to post earnings of $1.06 per share. This would mark year-over-year growth of 358.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $710.6 million, up 93.6% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.20 per share and revenue of $3.52 billion. These totals would mark changes of +1856.1% and +34.38%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. First Solar is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, First Solar is currently trading at a Forward P/E ratio of 29.16. Its industry sports an average Forward P/E of 27.86, so we one might conclude that First Solar is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.