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SolarEdge Technologies (SEDG) Advances While Market Declines: Some Information for Investors
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In the latest close session, SolarEdge Technologies (SEDG - Free Report) was up +1.74% at $45.66. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Shares of the photovoltaic products maker have appreciated by 27.86% over the course of the past month, outperforming the Oils-Energy sector's gain of 8.87%, and the S&P 500's loss of 3.59%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 78.95% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $303.61 million, up 38.33% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.36 per share and revenue of $1.4 billion, indicating changes of +115.13% and +18.2%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 31.09% increase. As of now, SolarEdge Technologies holds a Zacks Rank of #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 125.36. For comparison, its industry has an average Forward P/E of 17.48, which means SolarEdge Technologies is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 182, positioning it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SolarEdge Technologies (SEDG) Advances While Market Declines: Some Information for Investors
In the latest close session, SolarEdge Technologies (SEDG - Free Report) was up +1.74% at $45.66. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Shares of the photovoltaic products maker have appreciated by 27.86% over the course of the past month, outperforming the Oils-Energy sector's gain of 8.87%, and the S&P 500's loss of 3.59%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 78.95% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $303.61 million, up 38.33% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.36 per share and revenue of $1.4 billion, indicating changes of +115.13% and +18.2%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 31.09% increase. As of now, SolarEdge Technologies holds a Zacks Rank of #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 125.36. For comparison, its industry has an average Forward P/E of 17.48, which means SolarEdge Technologies is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 182, positioning it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.