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SolarEdge Technologies (SEDG) Dips More Than Broader Markets: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed at $129.51 in the latest trading session, marking a -0.94% move from the prior day. This change lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the photovoltaic products maker had lost 19.58% over the past month. This has lagged the Oils-Energy sector's gain of 4.61% and the S&P 500's loss of 2.86% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. On that day, SolarEdge Technologies is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 114.29%. Meanwhile, our latest consensus estimate is calling for revenue of $896.9 million, up 7.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.48 per share and revenue of $3.82 billion. These totals would mark changes of +59.33% and +22.88%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. SolarEdge Technologies is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 13.8. Its industry sports an average Forward P/E of 19.18, so we one might conclude that SolarEdge Technologies is trading at a discount comparatively.
It is also worth noting that SEDG currently has a PEG ratio of 0.57. 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. SEDG's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SolarEdge Technologies (SEDG) Dips More Than Broader Markets: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $129.51 in the latest trading session, marking a -0.94% move from the prior day. This change lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the photovoltaic products maker had lost 19.58% over the past month. This has lagged the Oils-Energy sector's gain of 4.61% and the S&P 500's loss of 2.86% in that time.
SolarEdge Technologies will be looking to display strength as it nears its next earnings release. On that day, SolarEdge Technologies is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 114.29%. Meanwhile, our latest consensus estimate is calling for revenue of $896.9 million, up 7.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.48 per share and revenue of $3.82 billion. These totals would mark changes of +59.33% and +22.88%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. SolarEdge Technologies is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 13.8. Its industry sports an average Forward P/E of 19.18, so we one might conclude that SolarEdge Technologies is trading at a discount comparatively.
It is also worth noting that SEDG currently has a PEG ratio of 0.57. 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. SEDG's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.