In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $93.20, marking a -0.32% move from the previous day. This change lagged the S&P 500's daily gain of 0.41%. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, added 0.7%.
Coming into today, shares of the photovoltaic products maker had gained 9.55% in the past month. In that same time, the Oils-Energy sector lost 0.62%, while the S&P 500 gained 2.04%.
Investors will be hoping for strength from SEDG as it approaches its next earnings release, which is expected to be November 6, 2019. In that report, analysts expect SEDG to post earnings of $1.19 per share. This would mark year-over-year growth of 38.37%. Our most recent consensus estimate is calling for quarterly revenue of $399.70 million, up 68.95% from the year-ago period.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $3.92 per share and revenue of $1.39 billion. These results would represent year-over-year changes of +23.66% and +48.72%, respectively.
It is also important to note the recent changes to analyst estimates for SEDG. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. SEDG is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note SEDG's current valuation metrics, including its Forward P/E ratio of 23.84. For comparison, its industry has an average Forward P/E of 23.76, which means SEDG is trading at a premium to the group.
Investors should also note that SEDG has a PEG ratio of 1.08 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry currently had an average PEG ratio of 1.02 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.