Brokerages Expect SolarEdge Technologies, Inc. (SEDG) Will Post Earnings of $0.32 Per Share
Brokerages expect that SolarEdge Technologies, Inc. (NASDAQ:SEDG) will announce earnings of $0.32 per share for the current quarter, Zacks reports. Zero analysts have made estimates for SolarEdge Technologies’ earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.28. SolarEdge Technologies reported earnings of $0.43 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 25.6%. The business is expected to report its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that SolarEdge Technologies will report full year earnings of $1.16 per share for the current year, with EPS estimates ranging from $1.10 to $1.19. For the next year, analysts forecast that the business will post earnings of $1.32 per share, with EPS estimates ranging from $1.20 to $1.39. Zacks’ EPS averages are an average based on a survey of research analysts that cover SolarEdge Technologies.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.37 by $0.18. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The firm had revenue of $136.10 million for the quarter, compared to analysts’ expectations of $125.07 million. During the same period in the previous year, the business earned $0.44 earnings per share. SolarEdge Technologies’s revenue for the quarter was up 9.1% compared to the same quarter last year.
Several equities analysts have recently issued reports on SEDG shares. Vetr raised SolarEdge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 price target on the stock in a research note on Tuesday, April 11th. TheStreet raised SolarEdge Technologies from a “d” rating to a “c” rating in a research note on Wednesday, April 26th. Cowen and Company set a $21.00 price target on SolarEdge Technologies and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Roth Capital set a $16.00 price target on SolarEdge Technologies and gave the company a “hold” rating in a research note on Wednesday, May 10th. Finally, FBR & Co reaffirmed a “market perform” rating and set a $50.00 price target (up previously from $17.00) on shares of SolarEdge Technologies in a research note on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $23.11.
In other news, VP Rachel Prishkolnik sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $27.69, for a total transaction of $830,700.00. Following the sale, the vice president now owns 20,000 shares of the company’s stock, valued at $553,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ronen Faier sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $27.24, for a total value of $544,800.00. Following the sale, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $2,724,000. The disclosure for this sale can be found here. Insiders sold 114,018 shares of company stock worth $2,757,847 in the last three months. Insiders own 16.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its stake in SolarEdge Technologies by 215.3% in the first quarter. Stifel Financial Corp now owns 45,217 shares of the semiconductor company’s stock worth $705,000 after buying an additional 30,878 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $178,000. Swiss National Bank raised its stake in SolarEdge Technologies by 7.5% in the first quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock worth $583,000 after buying an additional 2,600 shares in the last quarter. First Trust Advisors LP raised its stake in SolarEdge Technologies by 39.2% in the first quarter. First Trust Advisors LP now owns 90,885 shares of the semiconductor company’s stock worth $1,418,000 after buying an additional 25,617 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $138,000. 57.28% of the stock is currently owned by institutional investors.
Shares of SolarEdge Technologies (NASDAQ:SEDG) remained flat at $28.35 during midday trading on Monday. The stock had a trading volume of 1,675,038 shares. The stock has a 50-day moving average price of $21.12 and a 200 day moving average price of $16.89. SolarEdge Technologies has a one year low of $11.35 and a one year high of $28.65. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 28.18 and a beta of 0.04.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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