We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
First Solar (FSLR) Stock Declines While Market Improves: Some Information for Investors
Read MoreHide Full Article
First Solar (FSLR - Free Report) closed the latest trading day at $225.23, indicating a -0.83% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
The largest U.S. solar company's stock has dropped by 18.83% in the past month, falling short of the Oils-Energy sector's loss of 11.2% and the S&P 500's gain of 4.34%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on July 30, 2024. The company is expected to report EPS of $2.69, up 45.41% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $946.22 million, reflecting a 16.72% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.58 per share and a revenue of $4.52 billion, indicating changes of +75.45% and +36.26%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. Currently, First Solar is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 16.72. This valuation marks a premium compared to its industry's average Forward P/E of 10.12.
Meanwhile, FSLR's PEG ratio is currently 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.41.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 224, positioning it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FSLR in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
First Solar (FSLR) Stock Declines While Market Improves: Some Information for Investors
First Solar (FSLR - Free Report) closed the latest trading day at $225.23, indicating a -0.83% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
The largest U.S. solar company's stock has dropped by 18.83% in the past month, falling short of the Oils-Energy sector's loss of 11.2% and the S&P 500's gain of 4.34%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on July 30, 2024. The company is expected to report EPS of $2.69, up 45.41% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $946.22 million, reflecting a 16.72% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.58 per share and a revenue of $4.52 billion, indicating changes of +75.45% and +36.26%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. Currently, First Solar is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 16.72. This valuation marks a premium compared to its industry's average Forward P/E of 10.12.
Meanwhile, FSLR's PEG ratio is currently 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.41.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 224, positioning it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FSLR in the coming trading sessions, be sure to utilize Zacks.com.