In the latest close session, SolarEdge Technologies (SEDG) was up +1.76% at $34.71. The stock's change was more than the S&P 500's daily gain of 0.48%. On the other hand, the Dow registered a gain of 0.27%, and the technology-centric Nasdaq increased by 0.94%.
Coming into today, shares of the photovoltaic products maker had gained 6.39% in the past month. In that same time, the Oils-Energy sector gained 3.84%, while the S&P 500 gained 2.46%.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.48, showcasing a 96.87% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $333.46 million, indicating a 27.81% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.05 per share and a revenue of $1.15 billion, indicating changes of +86.73% and +24.53%, 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SolarEdge Technologies presently features a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% 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.
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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