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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 the most recent trading day at $138.46, moving +1.64% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the photovoltaic products maker had lost 16.43% over the past month, lagging the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from SolarEdge Technologies as it approaches its next earnings report date. In that report, analysts expect SolarEdge Technologies to post earnings of $1.95 per share. This would mark year-over-year growth of 114.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $896.9 million, up 7.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.48 per share and revenue of $3.82 billion. These totals would mark changes of +59.33% and +22.88%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. SolarEdge Technologies currently has a Zacks Rank of #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 14.38. For comparison, its industry has an average Forward P/E of 21.71, which means SolarEdge Technologies is trading at a discount to the group.
Also, we should mention that SEDG has a PEG ratio of 0.59. 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 0.68 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting 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) Gains As Market Dips: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $138.46, moving +1.64% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the photovoltaic products maker had lost 16.43% over the past month, lagging the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from SolarEdge Technologies as it approaches its next earnings report date. In that report, analysts expect SolarEdge Technologies to post earnings of $1.95 per share. This would mark year-over-year growth of 114.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $896.9 million, up 7.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.48 per share and revenue of $3.82 billion. These totals would mark changes of +59.33% and +22.88%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. SolarEdge Technologies currently has a Zacks Rank of #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 14.38. For comparison, its industry has an average Forward P/E of 21.71, which means SolarEdge Technologies is trading at a discount to the group.
Also, we should mention that SEDG has a PEG ratio of 0.59. 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 0.68 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting 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.