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First Solar (FSLR) Laps the Stock Market: Here's Why
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First Solar (FSLR - Free Report) closed the most recent trading day at $262.37, moving +0.4% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.25%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.03%.
The largest U.S. solar company's stock has climbed by 33.1% in the past month, exceeding the Oils-Energy sector's loss of 5.99% and the S&P 500's gain of 3.34%.
The upcoming earnings release of First Solar will be of great interest to investors. The company is predicted to post an EPS of $2.91, indicating a 57.3% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 24.86% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.59 per share and a revenue of $4.51 billion, representing changes of +75.58% and +35.94%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 0.18% increase. As of now, First Solar holds a Zacks Rank of #3 (Hold).
In terms of valuation, First Solar is presently being traded at a Forward P/E ratio of 19.24. This denotes a premium relative to the industry's average Forward P/E of 12.14.
We can also see that FSLR currently has a PEG ratio of 0.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Solar industry stood at 0.51 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 224, placing it within the bottom 12% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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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First Solar (FSLR) Laps the Stock Market: Here's Why
First Solar (FSLR - Free Report) closed the most recent trading day at $262.37, moving +0.4% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.25%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.03%.
The largest U.S. solar company's stock has climbed by 33.1% in the past month, exceeding the Oils-Energy sector's loss of 5.99% and the S&P 500's gain of 3.34%.
The upcoming earnings release of First Solar will be of great interest to investors. The company is predicted to post an EPS of $2.91, indicating a 57.3% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 24.86% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.59 per share and a revenue of $4.51 billion, representing changes of +75.58% and +35.94%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 0.18% increase. As of now, First Solar holds a Zacks Rank of #3 (Hold).
In terms of valuation, First Solar is presently being traded at a Forward P/E ratio of 19.24. This denotes a premium relative to the industry's average Forward P/E of 12.14.
We can also see that FSLR currently has a PEG ratio of 0.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Solar industry stood at 0.51 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 224, placing it within the bottom 12% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.