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Why First Solar (FSLR) Dipped More Than Broader Market Today
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In the latest trading session, First Solar (FSLR - Free Report) closed at $191.91, marking a -4.42% move from the previous day. This change lagged the S&P 500's 0.76% loss on the day. On the other hand, the Dow registered a loss of 0.68%, and the technology-centric Nasdaq decreased by 1.13%.
Heading into today, shares of the largest U.S. solar company had lost 2.92% over the past month, lagging the Oils-Energy sector's loss of 1.06% and the S&P 500's gain of 1.26%.
Market participants will be closely following the financial results of First Solar in its upcoming release. The company is forecasted to report an EPS of $4.59, showcasing a 8.25% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.29 billion, indicating a 19.04% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.78 per share and a revenue of $5.06 billion, representing changes of +25.12% and -3%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 0.06% higher. First Solar is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, First Solar is at present trading with a Forward P/E ratio of 11.29. This denotes a discount relative to the industry average Forward P/E of 14.48.
Also, we should mention that FSLR has a PEG ratio of 0.53. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.69.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 5% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Why First Solar (FSLR) Dipped More Than Broader Market Today
In the latest trading session, First Solar (FSLR - Free Report) closed at $191.91, marking a -4.42% move from the previous day. This change lagged the S&P 500's 0.76% loss on the day. On the other hand, the Dow registered a loss of 0.68%, and the technology-centric Nasdaq decreased by 1.13%.
Heading into today, shares of the largest U.S. solar company had lost 2.92% over the past month, lagging the Oils-Energy sector's loss of 1.06% and the S&P 500's gain of 1.26%.
Market participants will be closely following the financial results of First Solar in its upcoming release. The company is forecasted to report an EPS of $4.59, showcasing a 8.25% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.29 billion, indicating a 19.04% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.78 per share and a revenue of $5.06 billion, representing changes of +25.12% and -3%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 0.06% higher. First Solar is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, First Solar is at present trading with a Forward P/E ratio of 11.29. This denotes a discount relative to the industry average Forward P/E of 14.48.
Also, we should mention that FSLR has a PEG ratio of 0.53. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.69.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 5% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.