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First Solar (FSLR) Stock Dips While Market Gains: Key Facts
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In the latest trading session, First Solar (FSLR - Free Report) closed at $173.79, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
The largest U.S. solar company's shares have seen an increase of 17.72% over the last month, surpassing the Oils-Energy sector's gain of 4.4% and the S&P 500's loss of 0.9%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on May 1, 2024. In that report, analysts expect First Solar to post earnings of $2.05 per share. This would mark year-over-year growth of 412.5%. Meanwhile, our latest consensus estimate is calling for revenue of $753.89 million, up 37.5% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $13.55 per share and a revenue of $4.5 billion, demonstrating changes of +75.06% and +35.47%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.25% increase. First Solar presently features a Zacks Rank of #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 12.98. This valuation marks a premium compared to its industry's average Forward P/E of 12.22.
We can also see that FSLR currently has a PEG ratio of 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.3 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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First Solar (FSLR) Stock Dips While Market Gains: Key Facts
In the latest trading session, First Solar (FSLR - Free Report) closed at $173.79, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
The largest U.S. solar company's shares have seen an increase of 17.72% over the last month, surpassing the Oils-Energy sector's gain of 4.4% and the S&P 500's loss of 0.9%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on May 1, 2024. In that report, analysts expect First Solar to post earnings of $2.05 per share. This would mark year-over-year growth of 412.5%. Meanwhile, our latest consensus estimate is calling for revenue of $753.89 million, up 37.5% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $13.55 per share and a revenue of $4.5 billion, demonstrating changes of +75.06% and +35.47%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.25% increase. First Solar presently features a Zacks Rank of #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 12.98. This valuation marks a premium compared to its industry's average Forward P/E of 12.22.
We can also see that FSLR currently has a PEG ratio of 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.3 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.