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First Solar (FSLR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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First Solar (FSLR - Free Report) closed the latest trading day at $166.31, indicating a -0.66% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.34% for the day. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
Coming into today, shares of the largest U.S. solar company had gained 15.23% in the past month. In that same time, the Oils-Energy sector gained 2.1%, while the S&P 500 gained 2.56%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. In that report, analysts expect First Solar to post earnings of $3.27 per share. This would mark year-over-year growth of 4771.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.31 billion, up 30.56% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for First Solar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. Currently, First Solar is carrying a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 12.68. This denotes a discount relative to the industry's average Forward P/E of 12.69.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 206, this industry ranks in the bottom 19% of all industries, numbering over 250.
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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
First Solar (FSLR - Free Report) closed the latest trading day at $166.31, indicating a -0.66% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.34% for the day. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
Coming into today, shares of the largest U.S. solar company had gained 15.23% in the past month. In that same time, the Oils-Energy sector gained 2.1%, while the S&P 500 gained 2.56%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. In that report, analysts expect First Solar to post earnings of $3.27 per share. This would mark year-over-year growth of 4771.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.31 billion, up 30.56% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for First Solar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. Currently, First Solar is carrying a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 12.68. This denotes a discount relative to the industry's average Forward P/E of 12.69.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 206, this industry ranks in the bottom 19% of all industries, numbering over 250.
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.