In the latest market close, First Solar (FSLR) reached $231.13, with a -1.7% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.9%. At the same time, the Dow added 0.81%, and the tech-heavy Nasdaq gained 1.22%.

The largest U.S. solar company's stock has climbed by 9.48% in the past month, exceeding the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15%.

Investors will be eagerly watching for the performance of First Solar in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 29, 2024. The company is predicted to post an EPS of $3.25, indicating a 30% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.11 billion, indicating a 38.74% increase compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.57 per share and revenue of $4.47 billion, indicating changes of +75.32% and +34.83%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.26% decrease. At present, First Solar boasts a Zacks Rank of #3 (Hold).

In terms of valuation, First Solar is currently trading at a Forward P/E ratio of 17.33. This valuation marks a premium compared to its industry's average Forward P/E of 13.71.

We can additionally observe that FSLR currently boasts a PEG ratio of 0.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 1.81.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.

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 follow all of these stock-moving metrics, and many more, on Zacks.com.

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