First Solar(US:FSLR) ZACKSยท2024-06-24 22:55Company Performance - First Solar (FSLR) closed at $261.29, with a +0.93% change from the previous day, outperforming the S&P 500's loss of 0.31% [1] - Over the past month, First Solar shares declined by 6.46%, underperforming the Oils-Energy sector's loss of 4.31% and the S&P 500's gain of 2.73% [1] - The upcoming earnings per share (EPS) is projected at $2.81, reflecting a 51.89% increase year-over-year, while revenue is expected to reach $980.77 million, up 20.98% from the previous year [1] Annual Forecast - For the entire year, the Zacks Consensus Estimates predict earnings of $13.59 per share and revenue of $4.53 billion, indicating increases of +75.58% and +36.37% respectively compared to the previous year [2] Analyst Estimates - Recent changes to analyst estimates for First Solar suggest positive short-term business trends, which are typically seen as favorable for the company's outlook [2] - The Zacks Rank system, which evaluates stocks based on estimate changes, currently ranks First Solar at 3 (Hold) [3] Valuation Metrics - First Solar has a Forward P/E ratio of 19.06, which is a premium compared to the industry average of 11.23 [3] - The company has a PEG ratio of 0.34, indicating a favorable valuation relative to its expected earnings growth rate, while the average PEG ratio for solar stocks is 0.47 [3] Industry Context - The Solar industry is part of the Oils-Energy sector and currently holds a Zacks Industry Rank of 214, placing it in the bottom 16% of over 250 industries [4] - The Zacks Industry Rank is based on the average Zacks Rank of individual stocks, with top-rated industries historically outperforming lower-rated ones by a factor of 2 to 1 [4]