In the latest trading session, SolarEdge Technologies (SEDG) closed at $34.67, marking a -3.69% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq increased by 0.4%.
The photovoltaic products maker's stock has climbed by 16.5% in the past month, exceeding the Oils-Energy sector's gain of 1.36% and the S&P 500's loss of 1.29%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company is predicted to post an EPS of $0.03, indicating a 109.68% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $328.24 million, showing a 3.51% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $1.3 billion. These totals would mark changes of +92.02% and +9.57%, respectively, from last year.
Investors should also note any 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.04% higher. As of now, SolarEdge Technologies holds a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 5% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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).