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Why the Market Dipped But First Solar (FSLR) Gained Today
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First Solar (FSLR - Free Report) ended the recent trading session at $273.45, demonstrating a +0.14% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
The largest U.S. solar company's stock has climbed by 43.17% in the past month, exceeding the Oils-Energy sector's loss of 2.35% and the S&P 500's gain of 4.59%.
Investors will be eagerly watching for the performance of First Solar in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.91, reflecting a 57.3% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 24.86% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.55 per share and revenue of $4.51 billion, which would represent changes of +75.06% and +35.94%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for First Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, First Solar currently has a Forward P/E ratio of 20.15. For comparison, its industry has an average Forward P/E of 13.59, which means First Solar is trading at a premium to the group.
We can also see that FSLR currently has a PEG ratio of 0.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Solar industry had an average PEG ratio of 0.56 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 218, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But First Solar (FSLR) Gained Today
First Solar (FSLR - Free Report) ended the recent trading session at $273.45, demonstrating a +0.14% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
The largest U.S. solar company's stock has climbed by 43.17% in the past month, exceeding the Oils-Energy sector's loss of 2.35% and the S&P 500's gain of 4.59%.
Investors will be eagerly watching for the performance of First Solar in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.91, reflecting a 57.3% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 24.86% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.55 per share and revenue of $4.51 billion, which would represent changes of +75.06% and +35.94%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for First Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, First Solar currently has a Forward P/E ratio of 20.15. For comparison, its industry has an average Forward P/E of 13.59, which means First Solar is trading at a premium to the group.
We can also see that FSLR currently has a PEG ratio of 0.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Solar industry had an average PEG ratio of 0.56 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 218, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.