First Solar (FSLR) Dips More Than Broader Market: What You Should Know

In the latest trading session, First Solar (FSLR) closed at $239.07, marking a -3.85% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.05%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 0.24%. Coming into today, shares of the largest U.S. solar company had lost 18.04% in the past month. In that same time, the Oils-Energy sector lost 8.57%, while the S&P 500 lost 1.42%. The upcoming earnings release of First Solar will be of great interest to investors. The company is predicted to post an EPS of $2.85, indicating a 10.38% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, down 3.31% from the prior-year quarter. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.61 per share and a revenue of $5.1 billion, representing changes of +23.93% and -2.21%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for First Solar. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. First Solar is currently sporting a Zacks Rank of #3 (Hold). In terms of valuation, First Solar is presently being traded at a Forward P/E ratio of 14.12. This indicates a discount in contrast to its industry's Forward P/E of 22.24. We can additionally observe that FSLR currently boasts a PEG ratio of 0.55. 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. The Solar was holding an average PEG ratio of 0.99 at yesterday's closing price. The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 31% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks