First Solar (FSLR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw First Solar (FSLR) ending at $149.03, denoting a -0.18% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, lost 0.76%.
The largest U.S. solar company's stock has dropped by 13.34% in the past month, falling short of the Oils-Energy sector's loss of 1.02% and the S&P 500's gain of 3.36%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings per share (EPS) are projected to be $3.21, reflecting a 4685.71% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.31 billion, indicating a 30.47% growth compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. Such recent modifications usually signify the changing landscape of 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 shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.17% higher within the past month. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 11.29. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 11.29.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
