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First Solar (FSLR) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 min read

First Solar (FSLR) closed the most recent trading day at $132.27, moving +1.02% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.51%. At the same time, the Dow lost 1.71%, and the tech-heavy Nasdaq lost 0.02%.

Heading into today, shares of the largest U.S. solar company had gained 2.42% over the past month, outpacing the Oils-Energy sector's loss of 13.2% and the S&P 500's loss of 9.52% in that time.

Wall Street will be looking for positivity from First Solar as it approaches its next earnings report date. In that report, analysts expect First Solar to post earnings of -$0.24 per share. This would mark a year-over-year decline of 157.14%. Our most recent consensus estimate is calling for quarterly revenue of $761.87 million, up 30.57% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.08 per share and revenue of $2.63 billion, which would represent changes of -101.83% and -9.96%, respectively, from the prior year.

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Any recent changes to analyst estimates for First Solar should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 29.64% lower. First Solar is currently sporting a Zacks Rank of #3 (Hold).

The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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Zacks Investment Research