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First Solar (FSLR) Stock Sinks As Market Gains: Here's Why
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First Solar (FSLR - Free Report) ended the recent trading session at $233.24, demonstrating a -0.09% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.63%.
Coming into today, shares of the largest U.S. solar company had lost 19.93% in the past month. In that same time, the Oils-Energy sector lost 11.53%, while the S&P 500 gained 4.28%.
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. Our most recent consensus estimate is calling for quarterly revenue of $946.22 million, up 16.72% from the year-ago period.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of $13.63 per share and revenue of $4.53 billion. These results would represent year-over-year changes of +76.1% and +36.53%, respectively.
Investors might also notice recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.66% higher. Right now, First Solar possesses a Zacks Rank of #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 17.13. This valuation marks a premium compared to its industry's average Forward P/E of 10.93.
Meanwhile, FSLR's PEG ratio is currently 0.31. 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 0.46 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 226, this industry ranks in the bottom 11% of all industries, numbering over 250.
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 (FSLR) Stock Sinks As Market Gains: Here's Why
First Solar (FSLR - Free Report) ended the recent trading session at $233.24, demonstrating a -0.09% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.63%.
Coming into today, shares of the largest U.S. solar company had lost 19.93% in the past month. In that same time, the Oils-Energy sector lost 11.53%, while the S&P 500 gained 4.28%.
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. Our most recent consensus estimate is calling for quarterly revenue of $946.22 million, up 16.72% from the year-ago period.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of $13.63 per share and revenue of $4.53 billion. These results would represent year-over-year changes of +76.1% and +36.53%, respectively.
Investors might also notice recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.66% higher. Right now, First Solar possesses a Zacks Rank of #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 17.13. This valuation marks a premium compared to its industry's average Forward P/E of 10.93.
Meanwhile, FSLR's PEG ratio is currently 0.31. 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 0.46 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 226, this industry ranks in the bottom 11% of all industries, numbering over 250.
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.