SolarEdge Technologies (SEDG - Free Report) closed at $84.96 in the latest trading session, marking a +0.17% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Prior to today's trading, shares of the photovoltaic products maker had gained 4.56% over the past month. This has outpaced the Oils-Energy sector's loss of 0.43% and the S&P 500's gain of 2.46% in that time.
Wall Street will be looking for positivity from SEDG as it approaches its next earnings report date. This is expected to be November 6, 2019. The company is expected to report EPS of $1.19, up 38.37% from the prior-year quarter. 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.
Investors might also notice recent changes to analyst estimates for SEDG. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SEDG is currently a Zacks Rank #3 (Hold).
Investors should also note SEDG's current valuation metrics, including its Forward P/E ratio of 21.62. This valuation marks a premium compared to its industry's average Forward P/E of 21.49.
It is also worth noting that SEDG currently has a PEG ratio of 0.98. 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. SEDG's industry had an average PEG ratio of 0.93 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.