In the latest trading session, Maxeon Solar Technologies, Ltd. (MAXN) closed at $5.24, marking a +1.16% move from the previous day. This change lagged the S&P 500’s 1.56% gain on the day. Meanwhile, the Dow gained 1.15%, and the Nasdaq, a tech-heavy index, added 2.05%.
Heading into today, shares of the company had lost 43.05% over the past month, lagging the Oils-Energy sector’s loss of 4.7% and the S&P 500’s gain of 0.38% in that time.
The investment community will be closely monitoring the performance of Maxeon Solar Technologies, Ltd. in its forthcoming earnings report. The company is scheduled to release its earnings on November 15, 2023. In that report, analysts expect Maxeon Solar Technologies, Ltd. to post earnings of -$0.86 per share. This would mark year-over-year growth of 21.1%. Meanwhile, the latest consensus estimate predicts the revenue to be $226.93 million, indicating a 17.61% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.19 per share and a revenue of $1.18 billion, representing changes of +81.8% and +10.85%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Maxeon Solar Technologies, Ltd. Such recent modifications usually signify the changing landscape of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 497% downward. Currently, Maxeon Solar Technologies, Ltd. is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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