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

In the latest trading session, First Solar (FSLR) closed at $143.90, marking a -17.89% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.84%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%. Prior to today's trading, shares of the largest U.S. solar company had lost 1.8% was narrower than the Oils-Energy sector's loss of 0% and lagged the S&P 500's gain of 1.44%.The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. It is anticipated that the company will report an EPS of $2.63, marking a 19.08% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.01 billion, indicating a 0.34% upward movement from the same quarter last year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.5 per share and revenue of $4.89 billion. These totals would mark changes of +20.63% and +16.27%, respectively, from last year. Any recent changes to analyst estimates for First Solar should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. 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 shifted 1.31% downward. 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 12.09. This denotes a discount relative to the industry average Forward P/E of 18.72. It is also worth noting that FSLR currently has a PEG ratio of 0.35. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Solar industry stood at 0.69 at the close of the market yesterday. The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 29% echelons of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks