Why First Solar (FSLR) is a Top Growth Stock for the Long-Term

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

First Solar (FSLR)

Headquartered in Tempe, AZ, First Solar, Inc. is the world’s largest thin-film PV solar module manufacturer and the largest PV solar module manufacturer in the Western Hemisphere. The company is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. The company sells its products to project developers, system integrators and renewable energy project operators primarily in Europe and Germany in particular. First Solar also engages in designing and deploying commercial solar projects for utilities. The company also develops and sells PV solar power systems that primarily use the modules it manufactures. Additionally, it provides operations and maintenance (“O&M”) services to system owners.

FSLR is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 75.1% year-over-year for the current fiscal year, with sales growth of 35.5%.

10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.53 to $13.55 per share for 2024. FSLR boasts an average earnings surprise of 14.2%.

First Solar is also cash rich. The company has generated cash flow growth of 32.9%, and is expected to report cash flow expansion of 404.9% in 2024.

Investors should take the time to consider FSLR for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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