SolarEdge Technologies, Inc.’s SEDG strong financial position and expertise in module shipment bode well for its earnings in the upcoming days.
Zacks Rank and VGM Score
The company currently holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Our proprietary VGM Score is based on research that has proven that stocks with the best value, growth and momentum characteristics outperform the market. V stands for Value, G for Growth and M for Momentum. SolarEdge Technologies has a VGM Score of B.
Growth Projections
The Zacks Consensus Estimate for 2019 earnings per share is pegged at $4.07 on $1.42 billion revenues. The bottom line suggests a rise of 28.39% on a year-over-year basis. The top line indicates year-over-year increase of 51.80%.
The consensus mark for 2020 earnings is pegged at $5.16 per share on revenues of $1.63 billion. The bottom line indicates an increase of 26.84% year over year. The top line suggests a 14.65% rise on a year-over-year basis.
The company’s long-term (three to five years) earnings growth is pegged at 22%.
Surprise History & Price Performance
The company posted an average positive earnings surprise of 1.05% in the last four quarters.
In the past 12 months, shares of the company have surged 111.6% compared with the industry’s growth of 36.6%.
Global MLPE Shipment
According to a report by HIS Research on Sep 9, SolarEdge Technologies is a leader in the global module-level power electronics (MLPE) market. As of Sep 30, 2019, the company has shipped approximately 45.4 million power optimizers and 1.9 million inverters. As of Sep 30, it has shipped approximately 14.6 GW of DC optimized inverter systems.
As of Sep 30, the company’s cash, cash equivalents, bank deposits, restricted bank deposits and investments amounted to $432.9 million compared with $373.6 million on Jun 30, 2019.
Other Key Picks
A few other top-ranked stocks from the same sector are Bloom Energy Corporation BE, Enbridge Inc ENB and HollyFrontier Corporation HFC. All the three stocks hold a Zacks Rank #2.
Long-term earnings growth of Bloom Energy, Enbridge and HollyFrontier is pegged at 25%, 6.40% and 10.24%, respectively.
Bloom Energy, Enbridge and HollyFrontier delivered an average positive earnings surprise of 60.12%, 11.31% and 27.77% in the last four quarters, respectively.
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