SolarEdge Technologies (SEDG) closed the most recent trading day at $52.13, moving -5.53% from the previous trading session. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.55%.
Shares of the photovoltaic products maker have depreciated by 9.24% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.33%, and the S&P 500's gain of 4.28%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company is predicted to post an EPS of $0.04, indicating a 104.94% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $341.66 million, indicating a 18.04% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.05 per share and a revenue of $1.4 billion, representing changes of +102.1% and +18.44%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SolarEdge Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.78% higher. At present, SolarEdge Technologies boasts a Zacks Rank of #3 (Hold).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 1016.47. This indicates a premium in contrast to its industry's Forward P/E of 21.37.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).