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SolarEdge Technologies (SEDG) Stock Moves -1.24%: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $328.37, moving -1.24% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.53%. Meanwhile, the Dow lost 1.72%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Heading into today, shares of the photovoltaic products maker had gained 4.05% over the past month, outpacing the Oils-Energy sector's gain of 2.96% and the S&P 500's loss of 1.28% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect SolarEdge Technologies to post earnings of $1.95 per share. This would mark year-over-year growth of 62.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $932.9 million, up 42.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.44 per share and revenue of $4.07 billion, which would represent changes of +58.66% and +30.72%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.23% higher. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 35.22. This valuation marks a premium compared to its industry's average Forward P/E of 34.17.
Meanwhile, SEDG's PEG ratio is currently 1.13. 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. SEDG's industry had an average PEG ratio of 0.91 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
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) Stock Moves -1.24%: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $328.37, moving -1.24% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.53%. Meanwhile, the Dow lost 1.72%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Heading into today, shares of the photovoltaic products maker had gained 4.05% over the past month, outpacing the Oils-Energy sector's gain of 2.96% and the S&P 500's loss of 1.28% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect SolarEdge Technologies to post earnings of $1.95 per share. This would mark year-over-year growth of 62.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $932.9 million, up 42.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.44 per share and revenue of $4.07 billion, which would represent changes of +58.66% and +30.72%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.23% higher. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 35.22. This valuation marks a premium compared to its industry's average Forward P/E of 34.17.
Meanwhile, SEDG's PEG ratio is currently 1.13. 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. SEDG's industry had an average PEG ratio of 0.91 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.