First Solar (FSLR) Stock Dips While Market Gains: Key Facts

First Solar (FSLR) ended the recent trading session at $200.53, demonstrating a -1.4% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.Prior to today's trading, shares of the largest U.S. solar company had lost 15.42% over the past month. This has lagged the Oils-Energy sector's loss of 7.82% and the S&P 500's gain of 3.76% in that time.The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. The company is scheduled to release its earnings on October 29, 2024. The company's upcoming EPS is projected at $3.16, signifying a 26.4% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.08 billion, reflecting a 34.57% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.40 per share and a revenue of $4.44 billion, indicating changes of +73.13% and +33.7%, respectively, from the former year.Any recent changes to analyst estimates for First Solar should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.53% downward. First Solar currently has a Zacks Rank of #3 (Hold).Digging into valuation, First Solar currently has a Forward P/E ratio of 15.18. This expresses a premium compared to the average Forward P/E of 13.22 of its industry.It is also worth noting that FSLR currently has a PEG ratio of 0.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry had an average PEG ratio of 1.1 as trading concluded yesterday.The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want 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