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First Solar (FSLR) Gains As Market Dips: What You Should Know
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First Solar (FSLR - Free Report) closed the latest trading day at $216.43, indicating a +1.33% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.71%. Elsewhere, the Dow lost 0.93%, while the tech-heavy Nasdaq lost 0.81%.
Prior to today's trading, shares of the largest U.S. solar company had lost 17.88% over the past month. This has lagged the Oils-Energy sector's loss of 8.42% and the S&P 500's gain of 1.08% in that time.
The investment community will be paying close attention to the earnings performance of First Solar in its upcoming release. The company is slated to reveal its earnings on July 30, 2024. The company is predicted to post an EPS of $2.67, indicating a 44.32% growth compared to the equivalent quarter last year. 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 $13.57 per share and revenue of $4.53 billion. These results would represent year-over-year changes of +75.32% and +36.53%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.15% decrease. First Solar is currently a Zacks Rank #3 (Hold).
Looking at valuation, First Solar is presently trading at a Forward P/E ratio of 15.74. This represents a premium compared to its industry's average Forward P/E of 11.24.
It's also important to note that FSLR currently trades at a PEG ratio of 0.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.46.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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First Solar (FSLR) Gains As Market Dips: What You Should Know
First Solar (FSLR - Free Report) closed the latest trading day at $216.43, indicating a +1.33% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.71%. Elsewhere, the Dow lost 0.93%, while the tech-heavy Nasdaq lost 0.81%.
Prior to today's trading, shares of the largest U.S. solar company had lost 17.88% over the past month. This has lagged the Oils-Energy sector's loss of 8.42% and the S&P 500's gain of 1.08% in that time.
The investment community will be paying close attention to the earnings performance of First Solar in its upcoming release. The company is slated to reveal its earnings on July 30, 2024. The company is predicted to post an EPS of $2.67, indicating a 44.32% growth compared to the equivalent quarter last year. 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 $13.57 per share and revenue of $4.53 billion. These results would represent year-over-year changes of +75.32% and +36.53%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.15% decrease. First Solar is currently a Zacks Rank #3 (Hold).
Looking at valuation, First Solar is presently trading at a Forward P/E ratio of 15.74. This represents a premium compared to its industry's average Forward P/E of 11.24.
It's also important to note that FSLR currently trades at a PEG ratio of 0.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.46.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.