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SolarEdge Technologies (SEDG) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with SolarEdge Technologies (SEDG - Free Report) standing at $27.01, reflecting a +0.75% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.5%. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 1.28%.
Heading into today, shares of the photovoltaic products maker had gained 11.85% over the past month, outpacing the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1% in that time.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. In that report, analysts expect SolarEdge Technologies to post earnings of -$1.56 per share. This would mark a year-over-year decline of 159.54%. Meanwhile, the latest consensus estimate predicts the revenue to be $258.19 million, indicating a 73.95% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.66 per share and revenue of $1.32 billion. These totals would mark changes of -213.11% and -55.62%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.88% decrease. SolarEdge Technologies currently has a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
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SolarEdge Technologies (SEDG) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with SolarEdge Technologies (SEDG - Free Report) standing at $27.01, reflecting a +0.75% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.5%. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 1.28%.
Heading into today, shares of the photovoltaic products maker had gained 11.85% over the past month, outpacing the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1% in that time.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. In that report, analysts expect SolarEdge Technologies to post earnings of -$1.56 per share. This would mark a year-over-year decline of 159.54%. Meanwhile, the latest consensus estimate predicts the revenue to be $258.19 million, indicating a 73.95% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.66 per share and revenue of $1.32 billion. These totals would mark changes of -213.11% and -55.62%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.88% decrease. SolarEdge Technologies currently has a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.