In the latest trading session, First Solar (FSLR) closed at $101.85, marking a +1.52% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.11%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.14%.
Coming into today, shares of the largest U.S. solar company had lost 6.44% in the past month. In that same time, the Oils-Energy sector gained 1.65%, while the S&P 500 gained 2.46%.
FSLR will be looking to display strength as it nears its next earnings release. On that day, FSLR is projected to report earnings of $1.27 per share, which would represent a year-over-year decline of 37.13%. Our most recent consensus estimate is calling for quarterly revenue of $713.59 million, down 49.01% from the year-ago period.
Investors should also note any recent changes to analyst estimates for FSLR. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. FSLR is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note FSLR’s current valuation metrics, including its Forward P/E ratio of 27.46. This represents a discount compared to its industry’s average Forward P/E of 67.26.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
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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