Maxeon Solar Technologies, Ltd. (MAXN) closed at $9.10 in the latest trading session, marking a +1.28% move from the prior day. The stock’s change was more than the S&P 500’s daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
The company’s stock has dropped by 36.18% in the past month, falling short of the Oils-Energy sector’s loss of 1.37% and the S&P 500’s loss of 2.35%.
The upcoming earnings release of Maxeon Solar Technologies, Ltd. will be of great interest to investors. The company’s earnings report is expected on November 15, 2023. The company’s earnings per share (EPS) are projected to be -$0.30, reflecting a 72.48% increase from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.03 per share and a revenue of $1.3 billion, demonstrating changes of +99.54% and +22.85%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Maxeon Solar Technologies, Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Maxeon Solar Technologies, Ltd. presently features a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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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Maxeon Solar Technologies, Ltd. (MAXN) : Free Stock Analysis Report
