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Maxeon Solar Technologies, Ltd. (MAXN) Gains But Lags Market: What You Should Know
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Maxeon Solar Technologies, Ltd. (MAXN - Free Report) closed the most recent trading day at $6.31, moving +0.64% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 1.58%, and the Nasdaq, a tech-heavy index, added 1.16%.
Shares of the company witnessed a loss of 45.9% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 5.73% and the S&P 500's loss of 3.58%.
Investors will be eagerly watching for the performance of Maxeon Solar Technologies, Ltd. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 15, 2023. In that report, analysts expect Maxeon Solar Technologies, Ltd. to post earnings of -$0.86 per share. This would mark year-over-year growth of 21.1%. Meanwhile, our latest consensus estimate is calling for revenue of $226.93 million, down 17.61% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$1.19 per share and a revenue of $1.18 billion, demonstrating changes of +81.8% and +10.85%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Maxeon Solar Technologies, Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3573.85% lower. Maxeon Solar Technologies, Ltd. is currently sporting a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 204, positioning it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MAXN in the coming trading sessions, be sure to utilize Zacks.com.
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Maxeon Solar Technologies, Ltd. (MAXN) Gains But Lags Market: What You Should Know
Maxeon Solar Technologies, Ltd. (MAXN - Free Report) closed the most recent trading day at $6.31, moving +0.64% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 1.58%, and the Nasdaq, a tech-heavy index, added 1.16%.
Shares of the company witnessed a loss of 45.9% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 5.73% and the S&P 500's loss of 3.58%.
Investors will be eagerly watching for the performance of Maxeon Solar Technologies, Ltd. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 15, 2023. In that report, analysts expect Maxeon Solar Technologies, Ltd. to post earnings of -$0.86 per share. This would mark year-over-year growth of 21.1%. Meanwhile, our latest consensus estimate is calling for revenue of $226.93 million, down 17.61% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$1.19 per share and a revenue of $1.18 billion, demonstrating changes of +81.8% and +10.85%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Maxeon Solar Technologies, Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3573.85% lower. Maxeon Solar Technologies, Ltd. is currently sporting a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 204, positioning it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MAXN in the coming trading sessions, be sure to utilize Zacks.com.