SolarEdge Technologies (SEDG) closed at $24.96 in the latest trading session, marking a -8.81% move from the prior day. This change lagged the S&P 500's 0.32% gain on the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.26%.
Shares of the photovoltaic products maker witnessed a gain of 71.49% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.13%, and the S&P 500's gain of 4.51%.
Analysts and investors alike will be keeping a close eye on the performance of SolarEdge Technologies in its upcoming earnings disclosure. In that report, analysts expect SolarEdge Technologies to post earnings of -$0.82 per share. This would mark year-over-year growth of 54.19%. Meanwhile, our latest consensus estimate is calling for revenue of $273.71 million, up 3.13% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.3 per share and a revenue of $1.09 billion, signifying shifts of +85.65% and +17.69%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.74% lower within the past month. SolarEdge Technologies presently features a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% 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.
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, Inc. (SEDG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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