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SolarEdge Technologies (SEDG) Gains But Lags Market: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $285.48, moving +0.47% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 7.5%.
Prior to today's trading, shares of the photovoltaic products maker had lost 9.77% over the past month. This has lagged the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.57, up 42.73% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $874.98 million, up 58.53% from the year-ago period.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.07% lower. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 33.12. This valuation marks a premium compared to its industry's average Forward P/E of 31.96.
Also, we should mention that SEDG has a PEG ratio of 0.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 0.86 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow SEDG in the coming trading sessions, be sure to utilize Zacks.com.
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SolarEdge Technologies (SEDG) Gains But Lags Market: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $285.48, moving +0.47% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 7.5%.
Prior to today's trading, shares of the photovoltaic products maker had lost 9.77% over the past month. This has lagged the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.57, up 42.73% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $874.98 million, up 58.53% from the year-ago period.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.07% lower. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 33.12. This valuation marks a premium compared to its industry's average Forward P/E of 31.96.
Also, we should mention that SEDG has a PEG ratio of 0.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 0.86 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow SEDG in the coming trading sessions, be sure to utilize Zacks.com.