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First Solar (FSLR) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw First Solar (FSLR - Free Report) ending at $255.75, denoting a +0.04% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.13%. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.39%.
Coming into today, shares of the largest U.S. solar company had gained 14.59% in the past month. In that same time, the Oils-Energy sector lost 4.69%, while the S&P 500 gained 2.43%.
Investors will be eagerly watching for the performance of First Solar in its upcoming earnings disclosure. The company is expected to report EPS of $3.31, up 32.4% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.12 billion, reflecting a 40.06% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.62 per share and a revenue of $4.49 billion, representing changes of +75.97% and +35.28%, respectively, from the prior year.
Investors might also notice 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. First Solar currently has a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 18.76. This valuation marks a premium compared to its industry's average Forward P/E of 15.31.
It's also important to note that FSLR currently trades at a PEG ratio of 0.43. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Solar industry stood at 1.9 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw First Solar (FSLR - Free Report) ending at $255.75, denoting a +0.04% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.13%. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.39%.
Coming into today, shares of the largest U.S. solar company had gained 14.59% in the past month. In that same time, the Oils-Energy sector lost 4.69%, while the S&P 500 gained 2.43%.
Investors will be eagerly watching for the performance of First Solar in its upcoming earnings disclosure. The company is expected to report EPS of $3.31, up 32.4% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.12 billion, reflecting a 40.06% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.62 per share and a revenue of $4.49 billion, representing changes of +75.97% and +35.28%, respectively, from the prior year.
Investors might also notice 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. First Solar currently has a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 18.76. This valuation marks a premium compared to its industry's average Forward P/E of 15.31.
It's also important to note that FSLR currently trades at a PEG ratio of 0.43. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Solar industry stood at 1.9 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.