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Here's Why First Solar (FSLR) Gained But Lagged the Market Today
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First Solar (FSLR - Free Report) closed the most recent trading day at $151.82, moving +0.38% from the previous trading session. This change lagged the S&P 500's 0.81% gain on the day. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, added 1.35%.
The largest U.S. solar company's stock has dropped by 18.89% in the past month, falling short of the Oils-Energy sector's loss of 2.28% and the S&P 500's loss of 6.19%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. It is anticipated that the company will report an EPS of $2.17, marking a 571.74% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $903.96 million, up 43.73% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.68 per share and a revenue of $3.54 billion, representing changes of +1973.17% and +35.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 past month, the Zacks Consensus EPS estimate has moved 0.62% higher. First Solar is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 19.68. This valuation marks a premium compared to its industry's average Forward P/E of 19.11.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why First Solar (FSLR) Gained But Lagged the Market Today
First Solar (FSLR - Free Report) closed the most recent trading day at $151.82, moving +0.38% from the previous trading session. This change lagged the S&P 500's 0.81% gain on the day. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, added 1.35%.
The largest U.S. solar company's stock has dropped by 18.89% in the past month, falling short of the Oils-Energy sector's loss of 2.28% and the S&P 500's loss of 6.19%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. It is anticipated that the company will report an EPS of $2.17, marking a 571.74% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $903.96 million, up 43.73% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.68 per share and a revenue of $3.54 billion, representing changes of +1973.17% and +35.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 past month, the Zacks Consensus EPS estimate has moved 0.62% higher. First Solar is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 19.68. This valuation marks a premium compared to its industry's average Forward P/E of 19.11.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.