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Enphase Energy (ENPH) Gains But Lags Market: What You Should Know
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $248.70, marking a +0.23% move from the previous day. This move lagged the S&P 500's daily gain of 2.6%. Meanwhile, the Dow gained 2.83%, and the Nasdaq, a tech-heavy index, added 0.04%.
Coming into today, shares of the solar technology company had lost 22.61% in the past month. In that same time, the Oils-Energy sector lost 5.18%, while the S&P 500 lost 12.9%.
Wall Street will be looking for positivity from Enphase Energy as it approaches its next earnings report date. This is expected to be October 25, 2022. On that day, Enphase Energy is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 78.33%. Our most recent consensus estimate is calling for quarterly revenue of $615.95 million, up 75.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.09 per share and revenue of $2.25 billion, which would represent changes of +69.71% and +63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 60.6. For comparison, its industry has an average Forward P/E of 43.71, which means Enphase Energy is trading at a premium to the group.
Also, we should mention that ENPH has a PEG ratio of 1.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enphase Energy (ENPH) Gains But Lags Market: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $248.70, marking a +0.23% move from the previous day. This move lagged the S&P 500's daily gain of 2.6%. Meanwhile, the Dow gained 2.83%, and the Nasdaq, a tech-heavy index, added 0.04%.
Coming into today, shares of the solar technology company had lost 22.61% in the past month. In that same time, the Oils-Energy sector lost 5.18%, while the S&P 500 lost 12.9%.
Wall Street will be looking for positivity from Enphase Energy as it approaches its next earnings report date. This is expected to be October 25, 2022. On that day, Enphase Energy is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 78.33%. Our most recent consensus estimate is calling for quarterly revenue of $615.95 million, up 75.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.09 per share and revenue of $2.25 billion, which would represent changes of +69.71% and +63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 60.6. For comparison, its industry has an average Forward P/E of 43.71, which means Enphase Energy is trading at a premium to the group.
Also, we should mention that ENPH has a PEG ratio of 1.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.