In the latest trading session, SolarEdge Technologies (SEDG) closed at $34.81, marking a +1.16% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.41%. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, added 0.91%.
Shares of the photovoltaic products maker have appreciated by 17.88% over the course of the past month, outperforming the Oils-Energy sector's gain of 7.63%, and the S&P 500's gain of 0.38%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company is expected to report EPS of -$0.19, up 94.6% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $328.48 million, indicating a 67.4% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.65 per share and a revenue of $1.18 billion, signifying shifts of +88.47% and 0%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.13% downward. At present, SolarEdge Technologies boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, SolarEdge Technologies is currently exchanging hands at a Forward P/E ratio of 302.51. Its industry sports an average Forward P/E of 22.3, so one might conclude that SolarEdge Technologies is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 31% 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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