SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $103.22, moving +0.5% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.31%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 0.26%.
Prior to today's trading, shares of the photovoltaic products maker had gained 8.01% over the past month. This has outpaced the Oils-Energy sector's loss of 5.93% and the S&P 500's gain of 1.18% in that time.
Investors will be hoping for strength from SEDG as it approaches its next earnings release. In that report, analysts expect SEDG to post earnings of $1.30 per share. This would mark year-over-year growth of 106.35%. Our most recent consensus estimate is calling for quarterly revenue of $415.30 million, up 57.51% from the year-ago period.
Investors might also notice 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate 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 20.13. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 20.13.
It is also worth noting that SEDG currently has a PEG ratio of 0.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 0.89 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 215, putting it in the bottom 16% 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.