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SolarEdge Technologies (SEDG) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest close session, SolarEdge Technologies (SEDG - Free Report) was down 4.18% at $56.00. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.66%.
The photovoltaic products maker's stock has dropped by 25.56% in the past month, falling short of the Oils-Energy sector's loss of 4.76% and the S&P 500's loss of 1.21%.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is expected to report EPS of $0.05, up 106.17% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $341.66 million, indicating a 18.04% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.03 per share and a revenue of $1.4 billion, representing changes of +101.26% and +18.44%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. At present, SolarEdge Technologies boasts a Zacks Rank of #3 (Hold).
In the context of valuation, SolarEdge Technologies is at present trading with a Forward P/E ratio of 2191.5. This signifies a premium in comparison to the average Forward P/E of 23.19 for its industry.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 36% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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SolarEdge Technologies (SEDG) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest close session, SolarEdge Technologies (SEDG - Free Report) was down 4.18% at $56.00. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.66%.
The photovoltaic products maker's stock has dropped by 25.56% in the past month, falling short of the Oils-Energy sector's loss of 4.76% and the S&P 500's loss of 1.21%.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is expected to report EPS of $0.05, up 106.17% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $341.66 million, indicating a 18.04% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.03 per share and a revenue of $1.4 billion, representing changes of +101.26% and +18.44%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. At present, SolarEdge Technologies boasts a Zacks Rank of #3 (Hold).
In the context of valuation, SolarEdge Technologies is at present trading with a Forward P/E ratio of 2191.5. This signifies a premium in comparison to the average Forward P/E of 23.19 for its industry.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 36% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.