First Solar (FSLR) Stock Slides as Market Rises: Facts to Know Before You Trade
First Solar (FSLR) ended the recent trading session at $142.89, demonstrating a -1.27% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
Shares of the largest U.S. solar company witnessed a loss of 3.02% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 6.05% and the S&P 500's gain of 5.01%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on February 27, 2024. On that day, First Solar is projected to report earnings of $3.19 per share, which would represent year-over-year growth of 4657.14%. Meanwhile, our latest consensus estimate is calling for revenue of $1.31 billion, up 30.83% from the prior-year quarter.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% increase. First Solar presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 10.96. This denotes no noticeable deviation relative to the industry's average Forward P/E of 10.96.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
