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SolarEdge Technologies (SEDG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $283.05, marking a -0.83% move from the previous day. This change lagged the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Prior to today's trading, shares of the photovoltaic products maker had lost 7.13% over the past month. This has lagged the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 5.41% in that time.
Wall Street will be looking for positivity from SolarEdge Technologies as it approaches its next earnings report date. The company is expected to report EPS of $2.46, up 158.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $991.24 million, up 36.2% from the prior-year quarter.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $10.94 per share and revenue of $4.12 billion. These results would represent year-over-year changes of +83.87% and +32.59%, respectively.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.96% lower. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SolarEdge Technologies is holding a Forward P/E ratio of 26.09. This represents a no noticeable deviation compared to its industry's average Forward P/E of 26.09.
Also, we should mention that SEDG has a PEG ratio of 0.78. 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 industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $283.05, marking a -0.83% move from the previous day. This change lagged the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Prior to today's trading, shares of the photovoltaic products maker had lost 7.13% over the past month. This has lagged the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 5.41% in that time.
Wall Street will be looking for positivity from SolarEdge Technologies as it approaches its next earnings report date. The company is expected to report EPS of $2.46, up 158.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $991.24 million, up 36.2% from the prior-year quarter.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $10.94 per share and revenue of $4.12 billion. These results would represent year-over-year changes of +83.87% and +32.59%, respectively.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.96% lower. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SolarEdge Technologies is holding a Forward P/E ratio of 26.09. This represents a no noticeable deviation compared to its industry's average Forward P/E of 26.09.
Also, we should mention that SEDG has a PEG ratio of 0.78. 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 industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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.