First Solar (FSLR) Stock Dips Amidst Market Rally: Key Insights for Investors

In the most recent trading session, First Solar (FSLR) concluded at $186.37, reflecting a 1.45% decline compared to the previous day. This performance lagged behind the daily gain of 0.18% for the S&P 500. Simultaneously, the Dow registered a 0.33% increase, while the technology-focused Nasdaq saw a marginal dip of 0.02%.

Looking back over the past month, First Solar, the largest solar company in the United States, experienced a 3.63% decrease in its share price. During the same period, the Oils-Energy sector gained 0.93%, while the S&P 500 declined by 1.63%.

Investors are now eagerly anticipating First Solar’s upcoming earnings release. Projections indicate that First Solar is set to report earnings of $2.36 per share, showcasing a remarkable year-over-year growth of 613.04%. Our latest consensus estimate predicts quarterly revenue of $973.39 million, reflecting a substantial increase of 54.77% compared to the same period last year.

For the full year, the Zacks Consensus Estimates suggest that analysts are anticipating earnings of $7.60 per share and revenue of $3.51 billion. These figures represent substantial changes of +1953.66% and +34.17%, respectively, from the previous year.

It’s important for investors to keep an eye on recent changes in analyst estimates for First Solar, as these revisions often reflect current short-term business trends, which can change frequently. Positive estimate revisions indicate analyst confidence in the company’s business and profitability.

Our research indicates that these estimate revisions are closely tied to short-term stock movements. To capitalize on this, we have developed the Zacks Rank, a proprietary model that considers these estimate changes and provides a practical rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system boasts a proven track record of outperformance, with #1-rated stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate for First Solar has increased by 1.16%. Currently, First Solar holds a Zacks Rank of #3 (Hold).

Furthermore, valuation is a crucial consideration. At present, First Solar has a Forward P/E ratio of 24.33. In comparison, the industry average Forward P/E stands at 24.56, indicating that First Solar is trading at a discount compared to its peers.

Also Read: Capri Global Capital Share Price

The Solar industry is categorized under the Oils-Energy sector and currently holds a Zacks Industry Rank of 111, placing it in the top 45% of all 250+ industries. The Zacks Industry Rank assesses the strength of industry groups by evaluating the average Zacks Rank of individual stocks within the group.

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