First Solar (FSLR) Stock Tumbles as Market Gains: What You Need to Know

FFirst Solar (FSLR) closed at $77.60 in the last trading session, marking a -0.79% move from the previous day. This change lagged the S&P 500’s 1.17% gain on the day. Meanwhile, the Dow Jones gained 0.8% and the Nasdaq, a technology-heavy index, added 0.18%.

Going into today, shares of America’s largest solar company had gained 11.82% over the past month, outpacing the Oil & Energy sector’s gain of 4.63% and the S&P 500’s gain 0.88% over this period.

First Solar will look to show strength ahead of its next earnings release. In this report, analysts expect First Solar to post earnings of -$0.14 per share. This would mark a year-over-year decline of 107.14%. Our most recent consensus estimate calls for quarterly revenue of $616.35 million, down 23.28% from the prior year period.

For the full year, our Zacks consensus estimates call for earnings of $0.87 per share and revenue of $2.53 billion, which would represent swings of -80.14% and -13, 5%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for First Solar. Recent revisions tend to reflect the latest short-term trading trends. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.

Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. Over the past few months, the Zacks Consensus EPS estimate has fallen by 76.64%. First Solar currently holds a Zacks rank of #4 (sell).

As for its valuation, First Solar holds a Forward P/E ratio of 89.91. This represents a premium to its industry average Forward P/E of 50.47.

We can also see that FSLR currently has a PEG ratio of 9.49. This measure is used in the same way as the famous P/E ratio, but the PEG ratio also takes into account the growth rate of the stock’s expected earnings. FSLR’s industry had an average PEG ratio of 2.32 at yesterday’s close.

The Solar sector is part of the Oil-Energy sector. This industry currently has a Zacks Industry Rank of 227, which places it in the bottom 11% of all 250+ industries.

The Zacks Industry Ranking assesses the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to use to track all of these stock movement metrics, and more, in future trading sessions.

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