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First Solar (FSLR) Stock Declines While Market Improves: Some Information for Investors
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First Solar (FSLR - Free Report) closed the latest trading day at $225.23, indicating a -0.83% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
The largest U.S. solar company's stock has dropped by 18.83% in the past month, falling short of the Oils-Energy sector's loss of 11.2% and the S&P 500's gain of 4.34%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on July 30, 2024. The company is expected to report EPS of $2.69, up 45.41% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $946.22 million, reflecting a 16.72% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.58 per share and a revenue of $4.52 billion, indicating changes of +75.45% and +36.26%, respectively, from the former year.
Investors should also note any recent changes 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 demonstrates that these adjustments in estimates directly associate with imminent 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. Currently, First Solar is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 16.72. This valuation marks a premium compared to its industry's average Forward P/E of 10.12.
Meanwhile, FSLR's PEG ratio is currently 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.41.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 224, positioning it in the bottom 12% 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.
To follow FSLR in the coming trading sessions, be sure to utilize Zacks.com.
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First Solar (FSLR) Stock Declines While Market Improves: Some Information for Investors
First Solar (FSLR - Free Report) closed the latest trading day at $225.23, indicating a -0.83% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
The largest U.S. solar company's stock has dropped by 18.83% in the past month, falling short of the Oils-Energy sector's loss of 11.2% and the S&P 500's gain of 4.34%.
The upcoming earnings release of First Solar will be of great interest to investors. The company's earnings report is expected on July 30, 2024. The company is expected to report EPS of $2.69, up 45.41% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $946.22 million, reflecting a 16.72% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.58 per share and a revenue of $4.52 billion, indicating changes of +75.45% and +36.26%, respectively, from the former year.
Investors should also note any recent changes 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 demonstrates that these adjustments in estimates directly associate with imminent 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. Currently, First Solar is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, First Solar is currently exchanging hands at a Forward P/E ratio of 16.72. This valuation marks a premium compared to its industry's average Forward P/E of 10.12.
Meanwhile, FSLR's PEG ratio is currently 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.41.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 224, positioning it in the bottom 12% 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.
To follow FSLR in the coming trading sessions, be sure to utilize Zacks.com.