We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why SolarEdge Technologies (SEDG) Dipped More Than Broader Market Today
Read MoreHide Full Article
SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $31.91, moving -4.32% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.01%.
The photovoltaic products maker's shares have seen an increase of 0.82% over the last month, surpassing the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of SolarEdge Technologies in its upcoming release. The company is forecasted to report an EPS of $0.03, showcasing a 109.68% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $328.24 million, showing a 3.51% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $1.3 billion, which would represent changes of +92.02% and +9.57%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 2.04% higher. As of now, SolarEdge Technologies holds a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 233, placing it within the bottom 6% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
Image: Bigstock
Why SolarEdge Technologies (SEDG) Dipped More Than Broader Market Today
SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $31.91, moving -4.32% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.01%.
The photovoltaic products maker's shares have seen an increase of 0.82% over the last month, surpassing the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of SolarEdge Technologies in its upcoming release. The company is forecasted to report an EPS of $0.03, showcasing a 109.68% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $328.24 million, showing a 3.51% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $1.3 billion, which would represent changes of +92.02% and +9.57%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 2.04% higher. As of now, SolarEdge Technologies holds a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 233, placing it within the bottom 6% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.