SolarEdge Technologies (SEDG) to Release Quarterly Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG) is set to post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($1.55) per share for the quarter. SolarEdge Technologies has set its Q3 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter in the prior year, the business posted $2.06 earnings per share. The firm’s revenue was down 73.2% compared to the same quarter last year. On average, analysts expect SolarEdge Technologies to post $-9 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

SolarEdge Technologies Trading Up 3.4 %

SolarEdge Technologies stock opened at $18.30 on Tuesday. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $20.05 and its two-hundred day simple moving average is $31.95. SolarEdge Technologies has a 12 month low of $14.82 and a 12 month high of $103.15. The firm has a market cap of $1.05 billion, a PE ratio of -2.04 and a beta of 1.59.

Analyst Ratings Changes

Several research firms have recently issued reports on SEDG. Barclays lowered their target price on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Royal Bank of Canada decreased their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th. Susquehanna dropped their price target on SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley decreased their price objective on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Piper Sandler dropped their target price on shares of SolarEdge Technologies from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.88.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.