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SolarEdge Technologies (SEDG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $197.84, marking a -0.81% move from the previous day. This move lagged the S&P 500's daily loss of 0.8%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the photovoltaic products maker had lost 30.73% over the past month. This has lagged the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 5.13% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2022. The company is expected to report EPS of $1.46, up 0.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $826.74 million, up 57.06% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.61 per share and revenue of $3.08 billion. These totals would mark changes of +16.63% and +56.66%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 1.45% lower. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 35.57 right now. This represents a discount compared to its industry's average Forward P/E of 44.4.
Also, we should mention that SEDG has a PEG ratio of 1.22. 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. Solar stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SolarEdge Technologies (SEDG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $197.84, marking a -0.81% move from the previous day. This move lagged the S&P 500's daily loss of 0.8%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the photovoltaic products maker had lost 30.73% over the past month. This has lagged the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 5.13% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2022. The company is expected to report EPS of $1.46, up 0.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $826.74 million, up 57.06% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.61 per share and revenue of $3.08 billion. These totals would mark changes of +16.63% and +56.66%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 1.45% lower. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 35.57 right now. This represents a discount compared to its industry's average Forward P/E of 44.4.
Also, we should mention that SEDG has a PEG ratio of 1.22. 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. Solar stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.