SolarEdge Technologies (SEDG) closed the most recent trading day at $37.83, moving -11.98% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.8%. Elsewhere, the Dow saw a downswing of 0.15%, while the tech-heavy Nasdaq appreciated by 1.6%.
Coming into today, shares of the photovoltaic products maker had gained 0.23% in the past month. In that same time, the Oils-Energy sector gained 0.77%, while the S&P 500 gained 5.15%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.23, reflecting a 79.82% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $303.42 million, indicating a 38.24% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $1.4 billion. These totals would mark changes of +110.08% and +18.41%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 2.08% lower. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, SolarEdge Technologies is at present trading with a Forward P/E ratio of 179.83. This denotes a premium relative to the industry average Forward P/E of 16.19.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 19% of all 250+ industries.
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).