First Solar (FSLR) Laps the Stock Market: Here's Why
First Solar (FSLR) closed the most recent trading day at $151.46, moving +1.03% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.
Shares of the largest U.S. solar company have depreciated by 12.02% over the course of the past month, underperforming the Oils-Energy sector's loss of 5.56% and the S&P 500's gain of 2.08%.
The upcoming earnings release of First Solar will be of great interest to investors. On that day, First Solar is projected to report earnings of $3.25 per share, which would represent year-over-year growth of 4742.86%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.31 billion, indicating a 30.56% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for First Solar. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. Currently, First Solar is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, First Solar currently has a Forward P/E ratio of 11.35. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.35 for its industry.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 204, positioning it in the bottom 20% of all 250+ industries.
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.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
