SolarEdge Technologies (SEDG) closed at $37.96 in the latest trading session, marking a -1.71% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.06%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.39%.
Shares of the photovoltaic products maker have appreciated by 16.29% over the course of the past month, outperforming the Oils-Energy sector's gain of 0.54%, and the S&P 500's gain of 3.94%.
Market participants will be closely following the financial results of SolarEdge Technologies in its upcoming release. The company is forecasted to report an EPS of -$0.48, showcasing a 96.87% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $333.46 million, up 27.81% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$3.05 per share and a revenue of $1.15 billion, demonstrating changes of +86.73% and +24.53%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. SolarEdge Technologies is holding a Zacks Rank of #3 (Hold) right now.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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, Inc. (SEDG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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