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First Solar (FSLR) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, First Solar (FSLR - Free Report) closed at $219.48, marking a +0.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 2.51%.
Prior to today's trading, shares of the largest U.S. solar company had gained 6.94% over the past month. This has lagged the Oils-Energy sector's gain of 12.14% and outpaced the S&P 500's gain of 6.17% 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. On that day, First Solar is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 363.41%. Our most recent consensus estimate is calling for quarterly revenue of $709.4 million, up 93.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.25 per share and revenue of $3.47 billion. These totals would mark changes of +1868.29% and +32.6%, respectively, from last year.
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. 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. 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 0.45% higher. First Solar is currently a Zacks Rank #2 (Buy).
Digging into valuation, First Solar currently has a Forward P/E ratio of 30.2. This represents a premium compared to its industry's average Forward P/E of 28.43.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, First Solar (FSLR - Free Report) closed at $219.48, marking a +0.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 2.51%.
Prior to today's trading, shares of the largest U.S. solar company had gained 6.94% over the past month. This has lagged the Oils-Energy sector's gain of 12.14% and outpaced the S&P 500's gain of 6.17% 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. On that day, First Solar is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 363.41%. Our most recent consensus estimate is calling for quarterly revenue of $709.4 million, up 93.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.25 per share and revenue of $3.47 billion. These totals would mark changes of +1868.29% and +32.6%, respectively, from last year.
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. 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. 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 0.45% higher. First Solar is currently a Zacks Rank #2 (Buy).
Digging into valuation, First Solar currently has a Forward P/E ratio of 30.2. This represents a premium compared to its industry's average Forward P/E of 28.43.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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.