In the latest close session, SolarEdge Technologies (SEDG) was down 6.18% at $30.52. This change lagged the S&P 500's 1.11% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 1.88%.
The photovoltaic products maker's stock has dropped by 7.74% in the past month, falling short of the Oils-Energy sector's gain of 4.62% and the S&P 500's gain of 2.06%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company is forecasted to report an EPS of $0.01, showcasing a 103.23% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $329.11 million, indicating a 3.25% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.3 per share and a revenue of $1.3 billion, indicating changes of +87.39% and +9.81%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4% higher 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. With its current Zacks Industry Rank of 211, this industry ranks in the bottom 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).