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

Zacks Equity Research
·2 min read

First Solar (FSLR) closed the most recent trading day at $132.06, moving -1.88% from the previous trading session. This move lagged the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.15%, and the Nasdaq, a tech-heavy index, added 0.33%.

Prior to today's trading, shares of the largest U.S. solar company had lost 0.16% over the past month. This has lagged the Oils-Energy sector's of 0% and was narrower than the S&P 500's loss of 3.51% in that time.

First Solar will be looking to display strength as it nears its next earnings release. On that day, First Solar is projected to report earnings of -$0.24 per share, which would represent 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.

Any recent changes to analyst estimates for First Solar should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 moved 27.82% 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 71, putting it in the top 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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