SolarEdge Technologies (SEDG) closed the most recent trading day at $102.74, moving -1.36% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.81%.
Heading into today, shares of the photovoltaic products maker had gained 24.73% over the past month, outpacing the Oils-Energy sector's gain of 5.86% and the S&P 500's gain of 3.55% in that time.
Wall Street will be looking for positivity from SEDG as it approaches its next earnings report date. In that report, analysts expect SEDG to post earnings of $1.30 per share. This would mark year-over-year growth of 106.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $415.30 million, up 57.51% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SEDG. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SEDG is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, SEDG is holding a Forward P/E ratio of 20.41. Its industry sports an average Forward P/E of 20.41, so we one might conclude that SEDG is trading at a no noticeable deviation comparatively.
Meanwhile, SEDG's PEG ratio is currently 0.93. 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. The Solar industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
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