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SolarEdge Technologies (SEDG) Dips More Than Broader Markets: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed at $251.99 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the photovoltaic products maker had lost 11.63% over the past month. This has lagged the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% 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 $2.51, up 164.21% 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. 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 23.34. For comparison, its industry has an average Forward P/E of 24.71, which means SolarEdge Technologies is trading at a discount to the group.
We can also see that SEDG currently has a PEG ratio of 0.7. 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 0.86 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 94, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SolarEdge Technologies (SEDG) Dips More Than Broader Markets: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $251.99 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the photovoltaic products maker had lost 11.63% over the past month. This has lagged the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% 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 $2.51, up 164.21% 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. 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 23.34. For comparison, its industry has an average Forward P/E of 24.71, which means SolarEdge Technologies is trading at a discount to the group.
We can also see that SEDG currently has a PEG ratio of 0.7. 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 0.86 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 94, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.