First Solar (FSLR) Stock Dips While Market Gains: Key Facts
The latest trading session saw First Solar (FSLR) ending at $148.87, denoting a -1.71% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
Shares of the largest U.S. solar company have depreciated by 11.91% over the course of the past month, underperforming the Oils-Energy sector's loss of 5.22% and the S&P 500's gain of 2.4%.
The upcoming earnings release of First Solar will be of great interest to investors. The company is predicted to post an EPS of $3.23, indicating a 4714.29% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.31 billion, up 30.47% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. First Solar currently has a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 11.47. For comparison, its industry has an average Forward P/E of 11.47, which means First Solar is trading at no noticeable deviation to the group.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 219, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
