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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 at $284.59 in the latest trading session, marking a +0.02% move from the prior day. This change lagged the S&P 500's 0.17% gain on the day. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, added 0.67%.
Prior to today's trading, shares of the photovoltaic products maker had lost 3.94% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.08% and lagged the S&P 500's gain of 0.25% in that time.
Wall Street will be looking for positivity from SolarEdge Technologies as it approaches its next earnings report date. On that day, SolarEdge Technologies is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 62.5%. Our most recent consensus estimate is calling for quarterly revenue of $927.83 million, up 41.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.44 per share and revenue of $4.04 billion, which would represent changes of +58.66% and +30.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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% higher. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 30.14 right now. Its industry sports an average Forward P/E of 26.38, so we one might conclude that SolarEdge Technologies is trading at a premium comparatively.
Meanwhile, SEDG's PEG ratio is currently 0.97. 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. The Solar was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SolarEdge Technologies (SEDG) Gains But Lags Market: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $284.59 in the latest trading session, marking a +0.02% move from the prior day. This change lagged the S&P 500's 0.17% gain on the day. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, added 0.67%.
Prior to today's trading, shares of the photovoltaic products maker had lost 3.94% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.08% and lagged the S&P 500's gain of 0.25% in that time.
Wall Street will be looking for positivity from SolarEdge Technologies as it approaches its next earnings report date. On that day, SolarEdge Technologies is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 62.5%. Our most recent consensus estimate is calling for quarterly revenue of $927.83 million, up 41.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.44 per share and revenue of $4.04 billion, which would represent changes of +58.66% and +30.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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% higher. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 30.14 right now. Its industry sports an average Forward P/E of 26.38, so we one might conclude that SolarEdge Technologies is trading at a premium comparatively.
Meanwhile, SEDG's PEG ratio is currently 0.97. 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. The Solar was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.