First Solar (FSLR) Stock Declines While Market Improves: Some Information for Investors

In the latest trading session, First Solar (FSLR) closed at $186.43, marking a -0.02% move from the previous day. This change lagged the S&P 500's 1.26% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.77%.The largest U.S. solar company's stock has dropped by 5.79% in the past month, falling short of the Oils-Energy sector's loss of 5.1% and the S&P 500's loss of 2.82%.Market participants will be closely following the financial results of First Solar in its upcoming release. It is anticipated that the company will report an EPS of $4.77, marking a 46.77% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.47 billion, indicating a 26.75% growth compared to the corresponding quarter of the prior year.Investors should also note any recent changes to analyst estimates for First Solar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. First Solar presently features a Zacks Rank of #3 (Hold).Looking at its valuation, First Solar is holding a Forward P/E ratio of 9.21. This denotes a discount relative to the industry's average Forward P/E of 11.35.We can additionally observe that FSLR currently boasts a PEG ratio of 0.21. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Solar industry currently had an average PEG ratio of 0.71 as of yesterday's close.The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 43% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks