Yahoo Finance SolarEdge Technologies (SEDG) Stock Sinks As Market Gains: What You Should Know
SolarEdge Technologies (SEDG) closed at $318.45 in the latest trading session, marking a -0.23% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 4.87%.
Heading into today, shares of the photovoltaic products maker had gained 12.19% over the past month, outpacing the Oils-Energy sector's gain of 5.13% and the S&P 500's gain of 3.31% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be May 3, 2023. On that day, SolarEdge Technologies is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 62.5%. Our most recent consensus estimate is calling for quarterly revenue of $928.17 million, up 41.69% from the year-ago period.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of $9.42 per share and revenue of $4.04 billion. These results would represent year-over-year changes of +58.32% and +29.86%, respectively.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% lower. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
In terms of valuation, SolarEdge Technologies is currently trading at a Forward P/E ratio of 33.9. Its industry sports an average Forward P/E of 27.76, so we one might conclude that SolarEdge Technologies is trading at a premium comparatively.
Investors should also note that SEDG has a PEG ratio of 1.13 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
