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Why the Market Dipped But First Solar (FSLR) Gained Today
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The most recent trading session ended with First Solar (FSLR - Free Report) standing at $215.40, reflecting a +1.25% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.3%.
The largest U.S. solar company's shares have seen an increase of 1.09% over the last month, surpassing the Oils-Energy sector's gain of 0.93% and falling behind the S&P 500's gain of 3.64%.
Market participants will be closely following the financial results of First Solar in its upcoming release. In that report, analysts expect First Solar to post earnings of $3.33 per share. This would mark year-over-year growth of 33.2%. In the meantime, our current consensus estimate forecasts the revenue to be $1.15 billion, indicating a 43.7% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.60 per share and revenue of $4.5 billion. These totals would mark changes of +75.71% and +35.75%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 0.32% higher. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that First Solar has a Forward P/E ratio of 15.64 right now. This expresses a premium compared to the average Forward P/E of 13.77 of its industry.
We can also see that FSLR currently has a PEG ratio of 0.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Solar industry had an average PEG ratio of 1.79 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 166, this industry ranks in the bottom 35% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But First Solar (FSLR) Gained Today
The most recent trading session ended with First Solar (FSLR - Free Report) standing at $215.40, reflecting a +1.25% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.3%.
The largest U.S. solar company's shares have seen an increase of 1.09% over the last month, surpassing the Oils-Energy sector's gain of 0.93% and falling behind the S&P 500's gain of 3.64%.
Market participants will be closely following the financial results of First Solar in its upcoming release. In that report, analysts expect First Solar to post earnings of $3.33 per share. This would mark year-over-year growth of 33.2%. In the meantime, our current consensus estimate forecasts the revenue to be $1.15 billion, indicating a 43.7% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.60 per share and revenue of $4.5 billion. These totals would mark changes of +75.71% and +35.75%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 0.32% higher. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that First Solar has a Forward P/E ratio of 15.64 right now. This expresses a premium compared to the average Forward P/E of 13.77 of its industry.
We can also see that FSLR currently has a PEG ratio of 0.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Solar industry had an average PEG ratio of 1.79 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 166, this industry ranks in the bottom 35% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.