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SolarEdge Technologies (SEDG) Gains As Market Dips: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed at $258.94 in the latest trading session, marking a +1.51% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Coming into today, shares of the photovoltaic products maker had lost 10.62% in the past month. In that same time, the Oils-Energy sector lost 1.5%, while the S&P 500 gained 3.1%.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. On that day, SolarEdge Technologies is projected to report earnings of $2.52 per share, which would represent year-over-year growth of 165.26%. Our most recent consensus estimate is calling for quarterly revenue of $991.3 million, up 36.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.84 per share and revenue of $4.12 billion, which would represent changes of +82.18% and +32.57%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.04% higher. SolarEdge Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 23.52. This valuation marks a discount compared to its industry's average Forward P/E of 24.16.
Investors should also note that SEDG has a PEG ratio of 0.71 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 0.71 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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 As Market Dips: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $258.94 in the latest trading session, marking a +1.51% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Coming into today, shares of the photovoltaic products maker had lost 10.62% in the past month. In that same time, the Oils-Energy sector lost 1.5%, while the S&P 500 gained 3.1%.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. On that day, SolarEdge Technologies is projected to report earnings of $2.52 per share, which would represent year-over-year growth of 165.26%. Our most recent consensus estimate is calling for quarterly revenue of $991.3 million, up 36.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.84 per share and revenue of $4.12 billion, which would represent changes of +82.18% and +32.57%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.04% higher. SolarEdge Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 23.52. This valuation marks a discount compared to its industry's average Forward P/E of 24.16.
Investors should also note that SEDG has a PEG ratio of 0.71 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 0.71 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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.