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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 $273.56 in the latest trading session, marking a +0.57% move from the prior day. This change outpaced the S&P 500's 0.1% loss on the day. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the photovoltaic products maker had lost 1.96% in the past month. In that same time, the Oils-Energy sector gained 2.92%, while the S&P 500 gained 3.39%.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.53, up 166.32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $991.3 million, up 36.21% from the year-ago period.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $10.85 per share and revenue of $4.12 billion. These results would represent year-over-year changes of +82.35% and +32.57%, respectively.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 1.11% higher within the past month. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 25.07. This valuation marks a discount compared to its industry's average Forward P/E of 27.81.
Meanwhile, SEDG's PEG ratio is currently 0.76. 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. SEDG's industry had an average PEG ratio of 0.76 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $273.56 in the latest trading session, marking a +0.57% move from the prior day. This change outpaced the S&P 500's 0.1% loss on the day. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the photovoltaic products maker had lost 1.96% in the past month. In that same time, the Oils-Energy sector gained 2.92%, while the S&P 500 gained 3.39%.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.53, up 166.32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $991.3 million, up 36.21% from the year-ago period.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $10.85 per share and revenue of $4.12 billion. These results would represent year-over-year changes of +82.35% and +32.57%, respectively.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 1.11% higher within the past month. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 25.07. This valuation marks a discount compared to its industry's average Forward P/E of 27.81.
Meanwhile, SEDG's PEG ratio is currently 0.76. 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. SEDG's industry had an average PEG ratio of 0.76 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.