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SolarEdge Technologies (SEDG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $253.96, marking a -1.55% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.99%.
Heading into today, shares of the photovoltaic products maker had lost 9.43% over the past month, lagging the Oils-Energy sector's gain of 2.62% and the S&P 500's gain of 4.25% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release. The company is expected to report EPS of $2.51, up 164.21% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $991.24 million, up 36.2% from the year-ago period.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $10.92 per share and revenue of $4.12 billion. These results would represent year-over-year changes of +83.53% and +32.59%, respectively.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. SolarEdge Technologies is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 23.61 right now. This represents a discount compared to its industry's average Forward P/E of 24.38.
Meanwhile, SEDG's PEG ratio is currently 0.71. 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 0.81 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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 Sinks As Market Gains: What You Should Know
In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $253.96, marking a -1.55% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.99%.
Heading into today, shares of the photovoltaic products maker had lost 9.43% over the past month, lagging the Oils-Energy sector's gain of 2.62% and the S&P 500's gain of 4.25% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release. The company is expected to report EPS of $2.51, up 164.21% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $991.24 million, up 36.2% from the year-ago period.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $10.92 per share and revenue of $4.12 billion. These results would represent year-over-year changes of +83.53% and +32.59%, respectively.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. SolarEdge Technologies is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 23.61 right now. This represents a discount compared to its industry's average Forward P/E of 24.38.
Meanwhile, SEDG's PEG ratio is currently 0.71. 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 0.81 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.