First Solar (FSLR) closed the most recent trading day at $158.61, moving -1.72% from the previous trading session. This change lagged the S&P 500's daily gain of 0.02%. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq added 0.22%.
Prior to today's trading, shares of the largest U.S. solar company had lost 11.13% over the past month. This has lagged the Oils-Energy sector's gain of 3.17% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from First Solar as it approaches its next earnings report date. On that day, First Solar is projected to report earnings of $2.25 per share, which would represent year-over-year growth of 589.13%. Our most recent consensus estimate is calling for quarterly revenue of $923.38 million, up 46.82% from the year-ago period.
FSLR's full-year Zacks Consensus Estimates are calling for earnings of $7.68 per share and revenue of $3.55 billion. These results would represent year-over-year changes of +1973.17% and +35.36%, respectively.
Investors should also note any recent changes 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.51% higher within the past month. First Solar is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note First Solar's current valuation metrics, including its Forward P/E ratio of 21.02. Its industry sports an average Forward P/E of 19.75, so we one might conclude that First Solar is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow FSLR in the coming trading sessions, be sure to utilize Zacks.com.
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