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.
Why First Solar (FSLR) Dipped More Than Broader Market Today
Read MoreHide Full Article
First Solar (FSLR - Free Report) closed the most recent trading day at $162.96, moving -1.56% from the previous trading session. This move lagged the S&P 500's daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.91%, and the technology-centric Nasdaq decreased by 0.82%.
Heading into today, shares of the largest U.S. solar company had gained 10.62% over the past month, outpacing the Oils-Energy sector's gain of 4.89% and the S&P 500's gain of 5.17%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. The company is forecasted to report an EPS of $2.63, showcasing a 19.08% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 0.34% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.5 per share and a revenue of $4.89 billion, representing changes of +20.63% and +16.3%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for First Solar. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 0.17% fall in the Zacks Consensus EPS estimate. First Solar is currently a Zacks Rank #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 11.41. For comparison, its industry has an average Forward P/E of 14.07, which means First Solar is trading at a discount to the group.
It's also important to note that FSLR currently trades at a PEG ratio of 0.33. 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 0.46.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why First Solar (FSLR) Dipped More Than Broader Market Today
First Solar (FSLR - Free Report) closed the most recent trading day at $162.96, moving -1.56% from the previous trading session. This move lagged the S&P 500's daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.91%, and the technology-centric Nasdaq decreased by 0.82%.
Heading into today, shares of the largest U.S. solar company had gained 10.62% over the past month, outpacing the Oils-Energy sector's gain of 4.89% and the S&P 500's gain of 5.17%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. The company is forecasted to report an EPS of $2.63, showcasing a 19.08% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 0.34% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.5 per share and a revenue of $4.89 billion, representing changes of +20.63% and +16.3%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for First Solar. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 0.17% fall in the Zacks Consensus EPS estimate. First Solar is currently a Zacks Rank #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 11.41. For comparison, its industry has an average Forward P/E of 14.07, which means First Solar is trading at a discount to the group.
It's also important to note that FSLR currently trades at a PEG ratio of 0.33. 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 0.46.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.