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First Solar (FSLR) Stock Slides as Market Rises: Facts to Know Before You Trade
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First Solar (FSLR - Free Report) closed the latest trading day at $271.76, indicating a -1.81% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.8%. On the other hand, the Dow registered a gain of 1.51%, and the technology-centric Nasdaq decreased by 0.01%.
Coming into today, shares of the largest U.S. solar company had gained 53.33% in the past month. In that same time, the Oils-Energy sector lost 0.72%, while the S&P 500 gained 4.14%.
The upcoming earnings release of First Solar will be of great interest to investors. On that day, First Solar is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 58.92%. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 26.21% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.56 per share and revenue of $4.51 billion, indicating changes of +75.19% and +35.94%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for First Solar. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. As of now, First Solar holds a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 20.41. For comparison, its industry has an average Forward P/E of 15.06, which means First Solar is trading at a premium to the group.
It's also important to note that FSLR currently trades at a PEG ratio of 0.37. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar was holding an average PEG ratio of 0.57 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 218, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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First Solar (FSLR) Stock Slides as Market Rises: Facts to Know Before You Trade
First Solar (FSLR - Free Report) closed the latest trading day at $271.76, indicating a -1.81% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.8%. On the other hand, the Dow registered a gain of 1.51%, and the technology-centric Nasdaq decreased by 0.01%.
Coming into today, shares of the largest U.S. solar company had gained 53.33% in the past month. In that same time, the Oils-Energy sector lost 0.72%, while the S&P 500 gained 4.14%.
The upcoming earnings release of First Solar will be of great interest to investors. On that day, First Solar is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 58.92%. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 26.21% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.56 per share and revenue of $4.51 billion, indicating changes of +75.19% and +35.94%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for First Solar. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. As of now, First Solar holds a Zacks Rank of #3 (Hold).
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 20.41. For comparison, its industry has an average Forward P/E of 15.06, which means First Solar is trading at a premium to the group.
It's also important to note that FSLR currently trades at a PEG ratio of 0.37. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar was holding an average PEG ratio of 0.57 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 218, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.