SolarEdge Technologies (SEDG) closed the most recent trading day at $25.27, moving +1.12% from the previous trading session. The stock outperformed the S&P 500, which was up 0.09% on the day, while the Dow was up 0.09% and the tech-heavy Nasdaq was up 0.3%.
Shares of the solar power products maker fell 48.54% from the previous month, lagging the Oil & Energy sector’s 1.6% decline and the S&P 500’s 3.38% gain.
SolarEdge Technologies’ upcoming earnings release will be of major interest to investors, as the company is expected to report EPS of -$1.56, which would represent a year-over-year decline of 159.54%, while our most recent consensus estimates are calling for revenue of $263.82 million, which would represent a year-over-year decline of 73.39%.
Looking at the full fiscal year, our Zacks Consensus Estimates are projecting earnings of -$4.16 per share and revenue of $1.36 billion, which would represent changes of -200.97% and -54.16%, respectively, from the prior year.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. Such recent changes usually mean a shift in near-term business trend conditions, therefore, positive estimate revisions can be interpreted as a good sign for the company’s business outlook.
Our research has shown that these estimate revisions are directly correlated to near-term stock price movements.To take advantage of this, we have established the Zacks Rank, a proprietary model which takes these estimate revisions into account and provides an operational 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 ranked stocks generating an average annual return of +25% since 1988. Within the past 30 days, the Zacks Consensus EPS estimate has moved 3.66% lower. SolarEdge Technologies currently sports a Zacks Rank #4 (Sell).
The Solar Photovoltaics industry belongs to the Oil – Energy sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by determining the average Zacks Rank of the individual stocks that make up the groups, and our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to monitor all of these stock-impacting indicators and more using Zacks.com throughout the upcoming trading sessions.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
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