First Solar(US:FSLR) ZACKSยท2024-09-24 22:56Company Overview - First Solar (FSLR) closed at $244.98, reflecting a -1.72% change from the previous trading day's closing, underperforming the S&P 500's 0.25% gain [1] - Over the past month, FSLR shares appreciated by 6.9%, outperforming the Oils-Energy sector's loss of 0.05% and the S&P 500's gain of 1.65% [1] Earnings Projections - The upcoming EPS for First Solar is projected at $3.31, indicating a 32.4% increase compared to the same quarter of the previous year [1] - Revenue is expected to be $1.13 billion, showing a 40.53% increase compared to the year-ago quarter [1] - Full-year Zacks Consensus Estimates forecast earnings of $13.62 per share and revenue of $4.49 billion, representing year-over-year changes of +75.97% and +35.43%, respectively [2] Analyst Estimates and Valuation - Recent changes to analyst estimates for First Solar are important as they reflect near-term business trends, with positive revisions indicating a favorable business outlook [2] - The Zacks Rank system, which assesses estimate changes, currently ranks First Solar at 3 (Hold) [3] - First Solar has a Forward P/E ratio of 18.3, which is a premium compared to the industry's average Forward P/E of 17.19 [3] - The company boasts a PEG ratio of 0.42, significantly lower than the average PEG ratio for the Solar industry, which stood at 1.94 [3] Industry Context - The Solar industry is part of the Oils-Energy sector and currently holds a Zacks Industry Rank of 177, placing it in the bottom 31% of all industries [4] - The Zacks Industry Rank assesses the strength of industry groups, indicating that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [4]