Yahoo Finance SolarEdge Technologies (SEDG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw SolarEdge Technologies (SEDG) ending at $64.02, denoting a -1.05% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.31%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the photovoltaic products maker had lost 3.93% in the past month. In that same time, the Oils-Energy sector gained 4.74%, while the S&P 500 gained 3.05%.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$1.51, reflecting a 152.07% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $200.15 million, down 78.79% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.69 per share and a revenue of $1.66 billion, indicating changes of -141.02% and -44.23%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for SolarEdge Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.21% lower. Right now, SolarEdge Technologies possesses a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 40% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
