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Surging Earnings Estimates Signal Good News for First Solar (FSLR)

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First Solar, Inc. (FSLR - Free Report) is a solar modules manufacturer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FSLR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that First Solar could be a solid choice for investors.

Current Quarter Estimates for FSLR

In the past 30 days, five estimates have gone higher for First Solar while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of seven cents a share 30 days ago, to a loss of three cents today, a move of 57.1%.

Current Year Estimates for FSLR

Meanwhile, First Solar’s current year figures are also looking quite promising, with eight estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 33 cents per share 30 days ago to 53 cents per share today, an increase of 60.6%.

Bottom Line

The stock has also started to move higher lately, adding 25.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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