First Solar (FSLR) closed the most recent trading day at $83. 02, moving +0. 29% from the previous trading session. This change outpaced the S&P 500’s 0. 08% gain on the day. The Dow lost 0. 56%, and the Nasdaq, a tech-heavy index, lost 0.42%.
As of today, the shares of the U.S.’s largest solar company had lost 9. 23% in the past month. In that same time, the Oils-Energy sector gained 10. 22%, while the S&P 500 gained 0.22%.
Wall Street is looking for positive news from First Solar as it nears its next earnings report date. Analysts expect First Solar will post earnings of $1. 07 per share. This would mark a year-over-year decline of 0.93%. Meanwhile, our latest consensus estimate is calling for revenue of $906. 43 million, up 48. 78% from the prior-year quarter.
Investors may also notice recent changes in analyst estimates for First Solar. These revisions reflect the changing nature of short-term business trends. Positive estimate revisions are a sign of optimism among analysts about the company’s future business prospects and profitability.
Research shows that these revisions directly correlate with near-term share prices momentum. This is a great opportunity for investors to capitalize by using the Zacks Rank. This model takes into account these estimates and gives investors a simple, yet effective rating system.
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. Within the past 30 days, our consensus EPS projection has moved 1. 35% lower. First Solar currently holds a Zacks rank #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 39.65. For comparison, its industry has an average Forward P/E of 39. 13, which means First Solar is trading at a premium to the group.
We can also see that FSLR currently has a PEG ratio of 3.67. Although the PEG ratio is very similar to the P/E ratio, it also considers the expected earnings growth rate of the company. On average, solar stocks have a PEG ratio 1. 88 based on yesterday’s closing prices. The Solar industry is part the Oils-Energy section. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% of all 250+ industries. The Zacks Industry Rank measures the strength of each industry group by measuring the Zacks Ranks of individual stocks within those groups. Our research shows that the