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SolarEdge Technologies (SEDG) Stock Moves -0.97%: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed at $296.48 in the latest trading session, marking a -0.97% move from the prior day. This change was narrower than the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Prior to today's trading, shares of the photovoltaic products maker had gained 0.29% over the past month. This has lagged the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be August 2, 2022. On that day, SolarEdge Technologies is projected to report earnings of $1.40 per share, which would represent year-over-year growth of 9.38%. Meanwhile, our latest consensus estimate is calling for revenue of $726.28 million, up 51.29% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.85 per share and revenue of $3.02 billion. These totals would mark changes of +42.41% and +54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest 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. 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 has moved 1.26% lower. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SolarEdge Technologies is holding a Forward P/E ratio of 43.68. This valuation marks a premium compared to its industry's average Forward P/E of 41.22.
We can also see that SEDG currently has a PEG ratio of 1.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 1.53 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SolarEdge Technologies (SEDG) Stock Moves -0.97%: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $296.48 in the latest trading session, marking a -0.97% move from the prior day. This change was narrower than the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Prior to today's trading, shares of the photovoltaic products maker had gained 0.29% over the past month. This has lagged the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be August 2, 2022. On that day, SolarEdge Technologies is projected to report earnings of $1.40 per share, which would represent year-over-year growth of 9.38%. Meanwhile, our latest consensus estimate is calling for revenue of $726.28 million, up 51.29% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.85 per share and revenue of $3.02 billion. These totals would mark changes of +42.41% and +54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest 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. 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 has moved 1.26% lower. SolarEdge Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SolarEdge Technologies is holding a Forward P/E ratio of 43.68. This valuation marks a premium compared to its industry's average Forward P/E of 41.22.
We can also see that SEDG currently has a PEG ratio of 1.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar industry currently had an average PEG ratio of 1.53 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.