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First Solar (FSLR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, First Solar (FSLR - Free Report) closed at $197.91, marking a -0.3% move from the previous day. This change lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the largest U.S. solar company had gained 6.1% in the past month. In that same time, the Oils-Energy sector gained 3.85%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from First Solar as it approaches its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect First Solar to post earnings of $0.95 per share. This would mark year-over-year growth of 82.69%. Meanwhile, our latest consensus estimate is calling for revenue of $737.57 million, up 18.78% from the prior-year quarter.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of $7.28 per share and revenue of $3.49 billion. These results would represent year-over-year changes of +1875.61% and +33.28%, respectively.
It is also important to note the recent changes to analyst estimates for First Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.61% lower. First Solar currently has a Zacks Rank of #3 (Hold).
In terms of valuation, First Solar is currently trading at a Forward P/E ratio of 27.25. This represents a discount compared to its industry's average Forward P/E of 28.16.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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First Solar (FSLR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, First Solar (FSLR - Free Report) closed at $197.91, marking a -0.3% move from the previous day. This change lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the largest U.S. solar company had gained 6.1% in the past month. In that same time, the Oils-Energy sector gained 3.85%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from First Solar as it approaches its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect First Solar to post earnings of $0.95 per share. This would mark year-over-year growth of 82.69%. Meanwhile, our latest consensus estimate is calling for revenue of $737.57 million, up 18.78% from the prior-year quarter.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of $7.28 per share and revenue of $3.49 billion. These results would represent year-over-year changes of +1875.61% and +33.28%, respectively.
It is also important to note the recent changes to analyst estimates for First Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.61% lower. First Solar currently has a Zacks Rank of #3 (Hold).
In terms of valuation, First Solar is currently trading at a Forward P/E ratio of 27.25. This represents a discount compared to its industry's average Forward P/E of 28.16.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.