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SolarEdge Technologies (SEDG) Advances While Market Declines: Some Information for Investors
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The most recent trading session ended with SolarEdge Technologies (SEDG - Free Report) standing at $16.89, reflecting a +0.72% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.33%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
Prior to today's trading, shares of the photovoltaic products maker had lost 23.84% over the past month. This has lagged the Oils-Energy sector's loss of 10.39% and the S&P 500's gain of 1.83% in that time.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company's earnings report is expected on November 6, 2024. In that report, analysts expect SolarEdge Technologies to post earnings of -$1.55 per share. This would mark a year-over-year decline of 181.82%. In the meantime, our current consensus estimate forecasts the revenue to be $269.34 million, indicating a 62.87% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$6.47 per share and a revenue of $1.04 billion, indicating changes of -257.04% and -65.1%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.28% downward. Right now, SolarEdge Technologies possesses a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 161, positioning it in the bottom 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SolarEdge Technologies (SEDG) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with SolarEdge Technologies (SEDG - Free Report) standing at $16.89, reflecting a +0.72% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.33%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
Prior to today's trading, shares of the photovoltaic products maker had lost 23.84% over the past month. This has lagged the Oils-Energy sector's loss of 10.39% and the S&P 500's gain of 1.83% in that time.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company's earnings report is expected on November 6, 2024. In that report, analysts expect SolarEdge Technologies to post earnings of -$1.55 per share. This would mark a year-over-year decline of 181.82%. In the meantime, our current consensus estimate forecasts the revenue to be $269.34 million, indicating a 62.87% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$6.47 per share and a revenue of $1.04 billion, indicating changes of -257.04% and -65.1%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.28% downward. Right now, SolarEdge Technologies possesses a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 161, positioning it in the bottom 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.