First Solar (FSLR) closed the most recent trading day at $129.85, moving -1.46% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.72%. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the largest U.S. solar company had gained 8.28% over the past month. This has outpaced the Oils-Energy sector's loss of 4.64% and the S&P 500's loss of 9.09% in that time.
Wall Street will be looking for positivity from First Solar as it approaches its next earnings report date. The company is expected to report EPS of -$0.24, down 157.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $761.87 million, up 30.57% from the year-ago period.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of -$0.09 per share and revenue of $2.63 billion. These results would represent year-over-year changes of -102.05% and -9.96%, respectively.
It is also important to note the recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.9% lower within the past month. First Solar currently has a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FSLR in the coming trading sessions, be sure to utilize Zacks.com.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
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